Twin Metals Minnesota is Antofagasta's wholly owned underground copper-nickel-cobalt-PGM project in northeastern Minnesota. The current project configuration targets the Maturi deposit at 18,000 tonnes per day for 25 years and would produce separate copper, nickel-cobalt and precious-metals concentrates using flotation and dry-stack tailings management. The federal 20-year mineral withdrawal affecting the area was overturned in April 2026, but the project still must reestablish its federal mineral leases and restart federal and Minnesota environmental review and permitting. The reported $753 million after-tax NPV, 11.4% IRR and $2.775 billion initial capital estimate come from the superseded 2014 PFS configuration, which contemplated 50,000 short tons per day over 30 years at Maturi and Maturi Southwest.
- Country
- United States
- Commodity
- Cu
- Stage
- Pre-Feasibility