APEX Board and Investor-Member Meeting Highlights

Tuesday, June 28, 2022

APEX hosted its bi-monthly Board and Investor-Member meeting on May 5, 2022, at the Holiday Inn & Suites in Downtown Duluth, and virtually via Zoom. Brian Hanson, APEX President and CEO, thanked University of Minnesota Duluth Chancellor, Lendley Black, for his contributions on the APEX Executive Committee over the past 12 years. Chair, Lisa Bodine, welcomed keynote speaker, Kathy Graul, Manager of Public Relations for Twin Metals Minnesota.

Kathy provided context surrounding the importance of mining and metals in everyday life. It’s the foundation for our modern society. The World Bank has predicted significant increases in cobalt (+460%), nickel (+100%) and copper (+350%) in the coming years, all of which are contained in the Duluth Complex. As our society transitions to electric vehicles and clean energy production, we cannot and should not continue to import minerals when we have access to the critical minerals and stronger labor and environmental standards here.

Twin Metals is a proposed underground mine located within the Superior National Forest area, specifically designated for mining and mining activities. Over a decade of mapping, scientific research and review have contributed to Twin Metals’ mine plan, and the company has already committed to using an electric vehicle fleet. With best-in-class water management, tailing management and carbon sequestration plans, Twin Metals is on track to become a net-zero operation.

Following Kathy’s presentation, the APEX Board approved a Twin Metals Resolution of Support.

This is the type of project we like to see in Minnesota. It’s economy-driving, family-sustaining work that will propel our state to the forefront of the necessary transition to clean energy. For more information about the project, please visit www.twin-metals.com.

Following the Twin Metals presentation and Resolution approval, Ian Vincent, Director of Business Development, and Matt Shermoen, Senior Business Developer, shared highlights from our current Deal Sheet.  Ian reviewed the projects he is responsible for, including Project Lumber Port and Project Willow.  He also reiterated the need for “shovel ready” sites, which many businesses are looking for when they decide to relocate or expand.  Matt Shermoen then reviewed his projects, including the Yanmar (ASV) expansion deal (Project Tracks) that they’re working on in Itasca County, which will bring over 200 jobs to Grand Rapids.  Matt also reviewed existing properties that are currently being marketed to companies, including the Voyageur Capital Group site with Project Wood Cookie, Project Wood Fuel and Project Metal.

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