Duluth Metals, Franconia Minerals to merge

Duluth Metals, part of a venture that’s planning a copper and nickel mine in northeastern Minnesota, is acquiring Franconia Minerals Corp., which controls some of the land in the proposed mining area, for about $75 million. . . .
Toronto-based Duluth Metals has joined with Chilean mining company Antofagasta to form the joint venture, Oakdale, Minn.-based Twin Metals Minnesota, to mine the deposits, located mostly in St. Louis and Lake counties. Antofagasta is contributing nearly $30 million toward the Franconia acquisition.

Read more: Duluth Metals, Franconia Minerals to merge | Minneapolis / St. Paul Business Journal