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Glencore further backs Minnesota mining hopeful

Glencore has doubled its stake in Minnesota polymetallic mining hopeful PolyMet Mining Corp (TSX: POM; NYSE American: PLM) through a rights offering which was designed to eliminate a Glencore debt.

Staff reporter
PolyMet plans to use a former steel mill to process ore from its NorthMet project in Minnesota

PolyMet plans to use a former steel mill to process ore from its NorthMet project in Minnesota

Polymet said it raised about US$265 million by issuing the full allotment of almost 683 million shares pursuant to the offering, with Glencore acquiring more than 627 million shares to take its stake from...

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