Proposed Adirondack Land Exchange Secures 100 Adirondack Jobs, Adds Thousands of Acres to Forest Preserve

Senate and Assembly Approve Constitutional Amendment to help Adirondack Region; Voters to Decide This Fall

WILLSBORO, NY (06/19/2013)(readMedia)-- Willsboro, N.Y. – June 19, 2013 - NYCO Minerals Inc. and its 100 employees are pleased - and relieved - that the New York State Assembly and Senate have approved legislation to allow New York voters to decide this fall on a proposed land exchange between the company and the state that would protect more than 100 jobs, benefit the North Country economy and significantly expand New York's Adirondack Forest Preserve.

NYCO, an employer in the Adirondacks for the last 60 years, is proposing to provide New York State with land valued at $1 million to expand the Adirondack forest preserve by at least 1,500 acres. In exchange, NYCO is seeking temporary access to 200 acres of existing forest preserve land in the Town of Lewis, Essex County, known as Lot 8. The land immediately adjoins NYCO's mine. NYCO proposes to explore for and, if possible, capture a mineral known as wollastonite, a large reserve of which is believed to exist under Lot 8. After the wollastonite is recovered, NYCO would return the 200 acres to the forest preserve, fully reclaimed.

NYCO's existing mine is expected to be productive for only another three or four years. Access to reserves under Lot 8 would extend the life of NYCO's Adirondack operation – and the associated jobs and spinoff economic activity -- by eight to ten years. More than 100 people work for NYCO in Essex County, making the company one of the largest private-sector employers and taxpayers and one of the most significant drivers of economic activity in the Adirondack region.

The proposed exchange has drawn bipartisan political support and endorsements from business, labor and environmental organizations.

NYCO and its employees are grateful for the leadership and support of:

  • Gov. Cuomo and Department of Environmental Conservation Commissioner Joe Martens;
  • New York AFL-CIO;
  • The United Steelworkers;
  • The Adirondack Council;
  • The Adirondack Mountain Club;
  • Congressman Bill Owens,
  • Sen. Betty Little;
  • Assembly Members Dan Stec and Janet Duprey;
  • Adirondack Association of Towns and Villages;
  • Essex County Board of Supervisors;
  • North Country Regional Economic Development Council, and
  • Former Assembly Member Teresa Sayward

About NYCO

NYCO Minerals Inc., headquartered in Willsboro since 1953 and now a member of the S&B Industrial Minerals Group, was the first company in the world to commercially mine and market the mineral wollastonite. The Adirondack facility processes 150,000 tons of wollastonite per year. The company has built a reputation as a strong steward of the environment and the communities it calls home.

At the Lewis Mine and the NYCO processing facility in nearby Willsboro, the company employs 102 workers with a total payroll of $6 million. NYCO's presence supports another estimated 45 indirect jobs. The average annual compensation of NYCO employees is $53,000, which is 53 percent higher than the median salary in Essex County. NYCO pays more than $200,000 in local school and property taxes.

About Wollastonite

Also called calcium metasilicate, wollastonite is a white, non-metallic mineral that improves the strength and quality of automotive and consumer plastics, coatings, adhesives, sealants, brake components, construction materials, ceramics and many other applications.

CONTACT: John Brodt, Behan Communications, Inc. (518) 792-3856, or john.brodt@behancom.com

For more information, please visit www.nycominerals.com

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