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Commission ratifies application for $11 million infrastructure loan for Ares Mining; county to review draft agreement
Summary
The commission ratified submission of an application to the Community Impact Board (CIB) for an $11 million throughput infrastructure loan for Ares Mining’s proposed rare-mineral operations and asked county staff to scrutinize any draft agreement for county obligations and to consider a time-cost recovery fee for county review.
Millard County commissioners ratified on Tuesday the county’s submission of an application to the Utah Community Impact Board (CIB) for a possible $11 million loan to support throughput infrastructure for Ares Mining’s proposed rare-mineral project in the county.
County staff said CIB has conditionally awarded the loan to Ares subject to execution of final loan documents and that interpretation questions about the program’s new rules — from Senate Bill 187 — delayed earlier decisions. The county’s action at the meeting was limited to ratifying that the application had been…
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