Gogebic Taconite says mine isn't feasible, closing its Hurley, Wisconsin office

[lutefisk]

Well, this is a development!

The company that has planned a huge mine in northern Wisconsin announced Friday that it was closing its office near the mine site, saying the project was not feasible now.

"Our extensive environmental investigation and analysis of the site has revealed wetland issues that make major continued investment unfeasible at this time from both a cost perspective and given the uncertainty of recent US EPA actions, such as the events concerning the Alaskan Pebble Mine," said Gogebic Taconite president Bill Williams in a press release.

Williams said: "GTac will be closing our office in Hurley, Wisconsin effective March 1. We will continue to investigate the possibility of pursuing a permit to mine the Upson site but cannot justify maintaining an office in Hurley without a prospect of immediate action....

..."GTac will continue to follow all applicable state and federal regulations through this transition. Residents should be reassured that bonding remains in place to guarantee the completion of reclamation activities at monitoring and testing sites on the mine property.

LINK to Wisconsin State Journal

[Scuba]

1. Hooooray!!!!!!!!!!!!!!!!!!! (for now)

The mine never was feasible, unless bilking investors and taxpayers is your business model. A cynical person would wonder why they ever pursued it.

[Wellstone ruled]

2. What the heck,they already got their Tax

Rebates from the Wisconsin State coffers. See yah suckers.

[Ellipsis]

3. You should post this in LBN, this is news

[Lifelong Protester]

4. This is real news.

Glad to hear/read it.

[lutefisk]

5. Very real- I posted in LBN, too

[ewagner]

6. Surrender or strategic retreat?

I hope this is the end of it....

My friends in Mellen and Ashland should be relieved...at least for the moment.

[Still In Wisconsin]

7. That's such an incredibly gorgeous part of our state.

Hopefully this ends it.