South Dakota Mines seeks state funds to help build $34 million Mineral Industry building

[TexasTowelie]

A Senate bill that would authorize the construction of a new Mineral Industry building at South Dakota Mines is moving from the Education Committee to the Joint Appropriations Committee for approval.

Senate Bill 156 estimates the cost of the new building at $34 million and the cost to demolish the current building at $1 million. Mines President Jim Rankin said he doesn’t predict the cost will be “overrun,” and the university could adjust costs over time to stay within the budget.

The state would cover $19 million of the demolition and construction costs from general funds and another $16 million would come from other fund expenditure authorities, including $3 million from the university fund and $12 million from funds matched by local and private industry, proponents said.

Rankin said he anticipates the new building will be built within two years between O’Harra and the paleontology building. The old building, which has $22 million in deferred maintenance needs, would remain standing and be used for classes while the new building is built, he said.

Read more: https://rapidcityjournal.com/news/local/education/south-dakota-mines-seeks-state-funds-to-help-build-34-million-mineral-industry-building/article_c4255eaa-9a44-5cf8-b59e-099495f35941.html

[Karadeniz]

1. What is the purpose of a Mineral Industry building? Who will use it, benefit from it?