Minnesota DNR to Hold Metallic Minerals Lease Sale
Public bid scheduled for June 9 at 8:30 a.m.
ST. PAUL, Minn. – The Minnesota Department of Natural Resources is initiating the sale of leases for state-owned metallic minerals in Beltrami, Itasca, Koochiching, Lake of the Woods, and St. Louis Counties. The total amount of land up for lease is 195,324 acres.
The lease sale involves nonferrous minerals, which are all metals, such as copper, nickel, platinum, palladium, gold, silver, cobalt, chromium, zinc, lead, bismuth, tin, tungsten, tantalum, and niobium.
The DNR is charged with managing state-owned minerals for exploration and development, under Minnesota law. Revenue from these leases benefits public schools, local taxing districts, and the state’s general fund. This year marks the 35th sale of leases for state-owned metallic metals.
Companies interested in submitting bids may obtain bid forms and instructions by contacting the DNR Lands and Minerals Division at 651-259-5959. Sealed bids must be submitted before 4:30 p.m. June 8. A public bid opening will take place on June 9 at 8:30 a.m. in the lobby of the DNR’s Central Office, 500 Lafayette Rd, St. Paul.
The DNR will review all bids and notify potentially affected landowners, and notifications will go to the surface rights owners of parcels that receive bids. After an evaluation of bidders’ qualifications, the DNR will prepare a recommendation for the state’s Executive Council for consideration at its September 2017 meeting. The Council will then make final decisions about lease approvals.
Most mineral leases end within five years, and according to the DNR, only around 2.2 percent of state leased parcels have had exploration drilling.
For more information visit www.dnr.state.mn.us