ST. PAUL, MINNESOTA--(Marketwired - Jul 14, 2016) - PolyMet Mining Corp. ("PolyMet" or the "Company") (POM.TO)(NYSE MKT:PLM) - is pleased to report 68.05% of the eligible shares were represented at its Annual General Meeting of Shareholders (the "Meeting") held on July 13, 2016 in Toronto, Ontario and all motions put forward by the Company were passed at the Meeting.
The number of directors of the Company was fixed at nine and the following persons were elected as Directors of the Company to hold office until the next annual general meeting. The voting results are shown below:
| Director | Votes For | % For | Votes Withheld | % Withheld | ||||
| Jonathan Cherry | 107,434,108 | 99.28 | 777,552 | 0.71 | ||||
| Matthew Daley | 107,180,862 | 99.04 | 1,030,798 | 0.95 | ||||
| Dr. David Dreisinger | 107,271,982 | 99.13 | 939,678 | 0.86 | ||||
| W. Ian L. Forrest | 107,220,627 | 99.08 | 991,033 | 0.91 | ||||
| Helen Harper | 107,078,179 | 98.95 | 1,133,481 | 1.04 | ||||
| Alan R. Hodnik | 107,261,635 | 99.12 | 950,025 | 0.87 | ||||
| William Murray | 107,189,769 | 99.05 | 1,021,891 | 0.94 | ||||
| Stephen Rowland | 105,961,112 | 97.92 | 2,250,548 | 2.07 | ||||
| Michael M. Sill | 107,166,772 | 99.03 | 1,044,888 | 0.96 |
PricewaterhouseCoopers LLP was re-appointed as auditors of the Company and the board is authorized to fix the remuneration to be paid to the auditors.
Following the meeting, President and CEO Jon Cherry gave a presentation on achievements of the past year and goals for the future. Key achievements include:
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Environmental Impact Statement - final EIS published in November 2015, Minnesota Department of Natural Resources deemed the final EIS adequate in March 2016, completing the state's environmental review process;
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U.S. Forest Service Land Exchange - draft Record of Decision issued in November 2015, predecisional process progressing well;
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State Permits - water-related permit applications submitted to the state in July 2016;
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Additional $25 million loan facility agreed with Glencore and extension of repayment date of existing loans.
Key objectives include submittal of the air quality permit and permit to mine applications (summer 2016), USFS Land Exchange Record of Decision, the U.S. Army Corps. of Engineers Record of Decision and 404 wetlands permit, and decisions on state permits following regulatory review and public input.
Other objectives include refinancing and restructuring of the loans from Glencore and securing construction finance commitments tied to the permit schedule.
Cherry concluded, "We have invested significant time and effort since the permit application process was launched in April to ensure that the various water related permit applications are complete and consistent with the final EIS. We look forward to submitting the remaining mine and air permit applications in the coming weeks."