Your Views: Mine in Wisconsin's Penokee Hills could cost jobs in state
A recent Stellareport noted the irony of mining in the Penokee Hills: If Gogebic Taconite (GTAC) succeeds in getting a mine, it would create a net loss of jobs in Wisconsin.
That's because Caterpillar, a world supplier of mining equipment in South Milwaukee, could lose out on a huge mining project in western Australia. The Roy Hill mine will be seven times the GTAC project and larger than all the United States mines combined.
Caterpillar has stated that the GTAC project would not create new jobs at its plant. At stake is $650 million in financing from the Export-Import Bank that would go to Caterpillar for the Roy Hill Mine. Lawmakers from Michigan and Minnesota want to deny the financing to Caterpillar to protect their mines.
Big low-cost mines are being created all over the world. It doesn't make economic sense to mine in the environmentally sensitive Penokees.