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Statement from Bill Williams, President of Gogebic Taconite, LLC:

GTac will be closing our office in Hurley, Wisconsin effective March 1.  We will continue to investigate the possibility of pursuing a permit to mine the Upson site but cannot justify maintaining an office in Hurley without a prospect of immediate action.

Our extensive environmental investigation and analysis of the site has revealed wetland issues that make major continued investment unfeasible at this time from both a cost perspective and given the uncertainty of recent U.S. Environmental Protection Agency actions, such as the events concerning the Alaskan Pebble Mine.

Employees at our Hurley office have been informed and offered severance payments in addition to unemployment benefits.  Their work has been a credit to themselves and speaks volumes of their professionalism.

GTac will continue to follow all applicable state and federal regulations through this transition.  Residents should be reassured that bonding remains in place to guarantee the completion of reclamation activities at monitoring and testing sites on the mine property.

We are very thankful to our many supporters in the community, the region and the state of Wisconsin.  They, along with our employees and contractors, have become valued friends.