Passage of Wisconsin Mining Bill Breathes New Life into Gogebic Taconite

Wisconsin Governor Scott Walker is expected to sign the Wisconsin Mining Bill into law after it passed the state legislature Thursday on a 58-39 party-line vote, Mineweb reported.

As quoted in the market news:

Republicans first introduced a broad-based mining law bill that would have overhauled the state’s mining regulations in late 2011, in order to accommodate Gogebic Taconite’s demand for permitting reform before the company would build a $1.5 billion iron ore mine in Northwest Wisconsin. The measure died in the State Senate on a single vote, and Gogebic announced it would leave Wisconsin.

However, Governor Walker campaigned to change the law and bring the project back to Wisconsin. In his State of the State Address in January, Walker observed, “One of the best ways we can show the people of Wisconsin that their state government is focused on jobs is to pass a bill that streamlines the process for safe and environmentally sound mining.”

Click here to read the full Mineweb report.