Stocks in play: PolyMet Mining Corp

Announced that the Minnesota State Court of Appeals today affirmed the validity of the state’s nonferrous mining rules, rejecting a challenge from environmental groups who sought to overturn the rules after the state issued PolyMet’s Permit to Mine. In its unanimous decision, the three-judge panel recounted the history of the Department of Natural Resources’ nonferrous mining rules, emphasizing the decade of “study and rulemaking proceedings” that led to their adoption. The court agreed with the DNR that “flexible reclamation rules are necessary to accommodate the variety of conditions at proposed mine sites” and endorsed the DNR’s authority to establish reclamation standards and “deny a permit . . . if reclamation standards cannot be met.” PolyMet Mining Corp shares T.POM are trading up $0.01 at $0.51.