Back Forty Mine along Wisconsin border faces insufficient funding, increasing opposition.
The controversial proposed Back Forty open pit metallic sulfide mine on
the Michigan-Wisconsin border has suffered major financial and
permitting setbacks due to the ongoing COVID-19 pandemic and increasing
public concerns over the safety of tailings dams to store mine waste.
The proposed mine, would be located next to the Menominee River, which
flows into Lake Michigan, and has raised concerns about potential
pollution.
...moreThe COVID-19 pandemic has so far wiped $282 billion from the value of the top 50 mining companies worldwide, according to figures published by Mining.com. These huge losses suffered by the world’s largest mining companies has made it extremely difficult for junior mining companies, like Aquila Resources, the owner of the Back Forty Project, to raise sufficient funds to take the project through exploration, development and final permitting of a mine and tailings dam next to the Menominee River....
Ken Notes: Careful, this mine will always seek the path of least resistance and will buy the support it needs when we are not paying attention. They budget for spills as a cost of doing business. This is not a good project for Wisconsin and Michigan and I believe it is not going away!
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- - Volume: 8 - WEEK: 31 Date: 7/27/2020 9:22:52 AM -