# PolyMet and Teck complete joint venture for Minnesota copper-nickel mine

PolyMet and Teck American have completed a 50-50 joint venture, NewRange Copper Nickel, combining their copper-nickel projects in northeastern Minnesota. Each company will infuse $85 million into the venture.

- Type: Acquisition
- Announced: 2023-02-15
- Where: Hoyt Lakes, Minnesota, United States
- Value: $170.0M
- Status: completed
- Products: copper-nickel ore
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [Glencore](https://endata.com/companies/22952.md) (investor)
- [PolyMet Mining](https://endata.com/companies/64262.md) (partner)
- [Teck American](https://endata.com/companies/68592.md) (partner)

## Sources

- [startribune.com](https://www.startribune.com/polymet-teck-complete-minnesota-copper-nickel-mine-merger/600251809), 2023-02-15: "PolyMet, owner of the proposed Minnesota hard-rock mine closest to becoming reality, completed on Wednesday a 50-50 joint venture deal with Teck American"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.