By JT Haines — July 31, 2016
Brian Waldoch is a banker in the Twin Ports area of Minnesota and Wisconsin. He recently attended the US Forest Service listening session in Duluth on July 13, on the question of whether or not the USFS should renew federal mineral leases currently held by Twin Metals. (Twin Metals Minnesota LLC is a wholly owned operating subsidiary of the Chilean company Antofagasta PLC, “one of the top 10 copper producers in the world.” The leases concern land in the Superior National Forest in Minnesota, and would be required for a proposed copper/sulfide mining project to move forward.)
After the session, Waldoch submitted his own comment to the USFS, published here with permission, edited for length.
The famous economist Adam Smith said that we are all motivated by self interest.
I attended the public comment session held at the DECC in Duluth earlier this month and the arguments I heard boiled down to: 1.) The BWCA is a special place and we should do everything we can to protect it, and the region’s drinking water is at risk. 2.) The Range is struggling economically and we should support the people, families and their way of life. Both have merit, both are important. We could debate which one is more important until we are blue in the face but that isn’t what this is about.
“The self interest is the same as for all companies: Profit.”
If you, like Adam Smith, believe that people and corporations are motivated by self interest, it is clear that it is more likely than not that the BWCA will end up damaged and Lake Superior polluted. We are very familiar with the interests of the people who live here. But what of the company?
At the session, I did not hear anyone representing Twin Metals that would speak about the self interest of the company. This is concerning to me because they have the most to gain from this proposal and completely control the outcome. I think it is safe to assume what their self interest is, it is the same as for all companies: Profit. Quick, painless profit. The flashiest presentation we’ve ever seen won’t change this basic reality.
“If there is a corner to be cut in the name of profit that sacrifices the environment, rest assured, it will be cut.”
“We carry all the risk and little reward.”
All this boils down to this: if we approve this mine, we are placing our trust in a global corporation’s self interest to make the best decisions for our people and our environment. They have all reward and little risk. We carry all the risk and little reward.
All we need to do to validate Adam Smith’s assumptions is to look around the world in countries where there are fewer environmental laws — it is obvious, the mine companies’ self interest is alive and well and environmentally friendly and economically stable mines are not.
We only have one opportunity to not mess this up. Please make the right decision and do not renew the mineral leases.