Hey there, time traveller!
This article was published 12/2/2009 (4070 days ago), so information in it may no longer be current.
TRAVERSE CITY, Mich. - An international mining company says it is delaying development of a proposed nickel and copper mine in Michigan's Upper Peninsula because of the bad economy.
London-based Rio Tinto Group (NYSE:RTP) announced Thursday that development of the Kennecott Eagle project in Marquette County was being "deferred." The brief item in a lengthy financial statement didn't say for how long the mine would be on hold or provide other details.
But local manager Jon Cherry says the hotly contested mining project is still alive.
Cherry says construction already was being held up by opponents' lawsuits and a delay in obtaining state and federal permits.
He says those efforts will continue, as will preparations for building the mine and a separate processing mill when economic conditions allow it.
Rio Tinto is one of the biggest global miners, with operations around the world. In Canada, the company owns the former Alcan aluminum company based in Montreal and diamond operations in the Far North.