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Twin Metals mine estimate boosted 19 percent

By Steve Karnowski
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MINNEAPOLIS (AP) — The company planning an underground copper, nickel and precious metals mine near Ely in northeastern Minnesota boosted its estimates Tuesday of the reserves the site holds.

Toronto-based Duluth Metals Ltd., the parent company of Twin Metals Minnesota LLC, said its final estimates are an average of 19 percent higher than an interim estimate the company issued in June, when CEO Christopher Dundas called it a “monster deposit” and estimated the value of the metals at more than $100 billion.

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