Win-win land swap transaction between NYCO and New York State

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NYCO Minerals, member of the S&B Group, successfully ensured extension of its mining operations through an agreement with the people of New York State.

New Yorkers voted in favor of NYCO’s proposal to swap a 200 acre forest land parcel for 1,500 acres of prime recreational lands at a public statewide referendum on November 5, 2013.

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LandSwap_03bNYCO now has the opportunity to extend the life of its Adirondack operations and protect 100 jobs. At the same time, the New York State will see its spectacular Adirondack Forest Preserve grow significantly by new public recreational lands via an agreement of a land exchange transaction. The agreement allows NYCO to acquire the 200-acre parcel of state Forest Preserve land to the north of its Lewis Mine. In return, it will be donating 1,500 acres of spectacular recreational lands to New York State for inclusion in the Adirondack Forest Preserve for the enjoyment of people across the State. In addition, when NYCO’s mining operations on the 200 acres are complete, the company will reclaim and replant the land and return it to the Forest Preserve.
The Adirondack Land Swap exchange is a prominent example of what stakeholder dialogue can achieve, whereby organizations and individuals from all over the state and all across the ideological spectrum work together on common-sense solutions with mutual benefits for all parties involved.