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Gonzo iron ore price surge confuses market
Just over three weeks ago, global iron ore prices were trudging along in the doldrums just as they had since last year. Below $50/ton, iron ore costs more to mine here on Northern Minnesota’s Iron Range than it’s worth. In simplest terms, that’s why this region’s mines have struggled since the spring of 2015. As 2016 began there was talk of…
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Feelin’ the flow of ‘hair’-brained MN tradition
Ice hockey demonstrates the unexpected combination of beauty, speed and finesse with sharp blades, hard sticks and unrelenting violence. The sport has been extremely popular in Minnesota since its widespread adoption in Canada and the United States. And why not? Minnesotans have access to endless amounts of ice and don’t like to talk about our feelings. Hockey takes care of…
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Iron Range jobless woes hit St. Paul gridlock
The Minnesota legislature prepares to convene Tuesday for a shorter-than-usual 2016 session. Lawmakers will travel to the capitol for three months of deal-making and not-so-subtle electioneering. Here on Northern Minnesota’s Iron Range, many families are preparing for a very different sort of spring. A sharp downturn in the iron ore mining business led to almost 2,000 mine layoffs last year.…
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New vision for Range future
Life was hard for people who lived along Minnesota’s iron ranges 100 years ago. Working conditions in the mines were dangerous. Women had few rights. Nevertheless, it’s remarkable how much aspiration and hope these people delivered to future generations. Just read what they put on the walls. Found in the Keewatin City Council chambers are…
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State approves PolyMet environmental review
Never has the word “adequate” been such a hot topic. Today, the Minnesota Department of Natural Resources announced that the final Environmental Impact Statement (EIS) for the proposed PolyMet mine near Hoyt Lakes was adequate. “The environmental review process is about describing the potential environmental effects of the proposed NorthMet project,” said DNR Commissioner Tom Landwehr…
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Blows to Chinese steel offer hope to Range miners
This week, twin blows to the Chinese steel industry offer hope, at least temporarily, to the struggling American steel and iron mining industries. Yesterday, the U.S. Commerce Department announced it was planning to impose a 266 percent tariff on Chinese and other foreign steel due in response to the longstanding practice of “dumping.” China’s steel industry…
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Key PolyMet environmental report expected Thursday
On Thursday, March 3, state regulators will issue its ruling on the Environmental Impact Statement for the proposed PolyMet copper-nickel mine near Hoyt Lakes. This will be the culmination of at least seven years of debate over the EIS. The controversy centers on whether the development company is accurately reflecting the environmental risk of this form of…
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Sanders, Rubio win Minnesota caucuses
On the night of Super Tuesday, Bernie Sanders won the Democratic caucuses in Minnesota, while Marco Rubio won the Republican contest. Sure, Democratic frontrunner Hillary Clinton sailed to victory in eight of 12 other contests around the nation. Republican frontrunner Donald Trump racked up the most delegates as well. But Minnesota provided a symbolic victory for two guys…
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MN Caucuses: canary in U.S. political coal mine
This evening, Minnesotans head to their precinct caucuses to declare their preference for the next President of the United States. The Minnesota Caucuses begin at 7 p.m. I wrote about what to expect at your caucus in my Sunday column. (Also includes jokes). Meantime, 10 other states will hold primaries or caucuses today as part of Super…
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Obama OKs more enforcement to block steel dumping
Late last week, President Obama approved new measures to better enforce trade protections against illegal steel imports. The efforts would provide more funding to investigate allegations of steel dumping, or selling steel for less than it costs to make. The move comes amid some relief in steel pricing on the world market, a factor that…
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The front lines of democracy
Ever since control of the major parties was (at least partially) wrested from chain-smoking whiskey-soaked power brokers, Minnesotans have indicated their Presidential preference at caucuses. So what is a caucus? A caucus is a community meeting. Minnesota’s major parties hold them every two years in the late winter/early spring. Your caucus location is often, though…
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VIDEO: Obama vows to address steel dumping
UPDATE: U.S. Rep. Rick Nolan (D-MN8) has issued a statement saying that White House Chief of Staff Denis McDonough has told him that a comprehensive plan to address steel dumping will be revealed over the next two weeks. UPDATE II: The Duluth News Tribune reports on Obama’s pledge to address steel dumping. Today, President Obama…
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The mine bosses’ lament: ‘I owe, I owe’
Yesterday, my Hibbing Daily Tribune column detailed the persistently low prices for iron ore at the root of many of the Iron Range’s current woes. Today, I’m going to talk about debt. Supply and demand is one part of the economic picture for iron ore. Debt is what will probably determine the health of the companies who…
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How low can iron ore go? We’ll find out
To paraphrase an old cliche, do you want the good news or the bad news? Well, the bad news is that a recent commodities forecast by BMI Research predicts iron ore prices will find their floor in 2016, with prices falling further from their current lows through next fall. Iron ore is expected to trade at $35/ton on…
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Lost Mittens: A Love Story
It’s fitting that Valentine’s Day, a holiday celebrating romantic love, comes in the thick of Northern Minnesota’s sprawling winter. Just as many people have lost love over the years, so it goes for our gloves and hats after months of regular use. By now, gloves have been removed and placed in pockets more times than…