DULUTH, Minn. (AP) -- An economic impact study funded by Gogebic Taconite on its proposed $1.5 billion mine and processing plant in northern Wisconsin predicts an annual economic impact of $600 million on the state's economy.
It would be the first iron mining operation in northern Wisconsin since the iron ore mines closed in the 1960s. In addition to 700 plant employees, the study by NorthStar Economics, of Madison, says about 2,800 spinoff jobs might be created once the mine is up and running.
Gogebic, a company wholly owned by the Cline Group, says permits from the Wisconsin Department of Natural Resources are expected any day, then it can drill eight test borings at key sites across the proposed mine area along the border of Ashland and Iron counties.
The Duluth News Tribune says environmental impact statements will take several years, with a ground breaking possible by 2014.
The Duluth News Tribune's report can be found at: http://bit.ly/hLcb4T
Information from: Duluth News Tribune, http://www.duluthsuperior.com
(Copyright 2011 by The Associated Press. All Rights Reserved.)