The Ashland Current reports that an Illinois coal mining company is looking at the feasibility of opening a taconite mine in northern Wisconsin. The Gogebic-Penokee Iron Range is a formation that runs from east of Ashland, Wis., through the western portion of Michigan’s upper peninsula.
Though the politics of mining in this part of northern Wisconsin, which isn’t accustomed to open pit mining, are sure to be tumultuous, this probably gives you a good sense of where steel prices are for the time being. The Iron Range of northern Minnesota is America’s top producer of taconite and iron products. Here, we can bet that mining will enter a robust period that offers yet another, if not final chance to diversify and reorganize our economic structure before the next drop occurs.
(h/t Business North)
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