Twin Metals Minnesota Company Information

Profile

TWIN METALS MINNESOTA LLC (TMM) is a Minnesota mining company focused on designing, constructing and operating an underground copper, nickel, cobalt and platinum group metals mining Project and is committed to doing so in an environmentally responsible way. The company currently operates in offices in Ely and St. Paul, Minnesota. The TMM Project will target the valuable minerals within the Maturi deposit approximately nine miles southeast of Ely, and 11 miles northeast of Babbitt. The deposit is part of the Duluth Complex geologic formation, which contains 34% of U.S. copper reserves, up to 99% of U.S. nickel reserves and 88% of U.S. cobalt reserves. TMM submitted a detailed mine plan of operations in December of 2019, initiating a rigorous and thorough environmental review by multiple state and federal agencies as required by law. This marks the culmination of more than a decade of engineering, environmental and engagement work including the evaluation of dozens of Project configurations and technologies that maximize environmental protection. To date, more than $450 million has been invested in the TMM Project, and TMM expects to invest a total of approximately $1.7 billion in design, study, environmental review, permitting and construction related to its underground mine project. Once operational, TMM expects to directly employ at least 750 people long-term and create an estimated 1,500 spinoff jobs. For more than 135 years, Minnesota has been a leader in both mining development and regulation to ensure strong environmental and labor standards. TMM is dedicated to building, operating, and closing a mine that employs industry best practices and meets or exceeds all state and federal environmental standards. TMM is a subsidiary of Antofagasta plc, one of the top 10 global copper producers. For more information on the project, visit www.twin-metals.com.