Overview
PolyMet Mining isn't limiting itself to one type of metal. The company is primarily looking to develop its NorthMet deposit in the Mesabi Iron Range of northeastern Minnesota. NorthMet contains cobalt, copper, and nickel, as well as assorted precious metals. PolyMet operates the Erie Plant (an iron ore processing facility six miles west of the NorthMet deposit and connected to it by a private railroad). PolyMet has completed a feasibility study
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Read More of the NorthMet project and is seeking environmental and operating permits to start production. It seeks investments from large mining companies to help it develop the project. A unit of Glencore Xstrata owns 24% of the miner.
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Read More of the NorthMet project and is seeking environmental and operating permits to start production. It seeks investments from large mining companies to help it develop the project. A unit of Glencore Xstrata owns 24% of the miner.
Read Less
Jon Cherry
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Metal Ore Mining
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Mining (except Oil and Gas)
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Mining, Quarrying, and Oil and Gas Extraction
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Copper ores
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Nickel ore mining
See All Industries , Cobalt ore mining , Platinum group ores mining , Palladium group ores mining Open pit gold mining
See Fewer Industries
See All Industries , Cobalt ore mining , Platinum group ores mining , Palladium group ores mining Open pit gold mining
See Fewer Industries
Contacts
Get in Touch with 14 Principals* and 5 Contacts
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Jon CherryPresident and Chairman of the Board and Member of the Board of Directors
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Contact 2?
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Contact 3?
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Contact 4?
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Financial Data
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Revenue in USD
Annual Revenue
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USD
Modelled
All financial statement data is in millions except per share data | Source: Morningstar
| Cash Flow (mil) | 2022 | 2021 | 2020 |
|---|---|---|---|
| Net Operating Cash | -$15 | -$10 | -$18 |
| Net Investing Cash | -$8 | -$7 | -$9 |
| Net Financing Cash | $31 | $17 | $23 |
| Net Change in Cash | $8 | -$1 | -$4 |
| Cash at Beginning of Period | $3 | $4 | $7 |
| Cash at End of Period | $11 | $3 | $4 |
| Capital Expenditure | -$8 | -$7 | -$9 |
| Assets (mil) | 2022 | 2021 | 2020 |
|---|---|---|---|
| Current Assets | |||
| Cash and Cash Equivalents | $11 | $3 | $4 |
| Accounts Receivable | $0 | $0 | $0 |
| Inventories | $ | $ | $ |
| Other Current Assets | $2 | $1 | $1 |
| Asset Summary | |||
| Total Current Assets | $13 | $4 | $5 |
| Tangible Fixed Assets | $442 | $423 | $416 |
| Intangible Assets | $ | $ | $ |
| Total Assets | $493 | $468 | $461 |
| Liabilities (mil) | 2022 | 2021 | 2020 |
|---|---|---|---|
| Current Liabilities | |||
| Accounts Payable | $ | $ | $ |
| Short-Term Debt | $94 | $18 | $17 |
| Other Current Liabilities | $5 | $4 | $4 |
| Liability Summary | |||
| Total Current Liabilities | $99 | $22 | $20 |
| Long-Term Debt | $ | $36 | $19 |
| Other Long-Term Liabilities | $ | $ | $ |
| Total Liabilities | $165 | $111 | $91 |
| Stakeholder's Equity (mil) | 2022 | 2021 | 2020 |
|---|---|---|---|
| Equity | |||
| Common Stock | $530 | $529 | $528 |
| Retained Earnings | -$278 | -$244 | -$228 |
| Equity Summary | |||
| Total Equity | $328 | $358 | $370 |
| Shares Outstanding | 109,941,263 | 109,297,892 | 109,140,678 |