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by pasbesoin
3280 days ago
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Upper Peninsula of Michigan. There's still copper. It just couldn't compete with the open pit mines, overseas, etc., at subsequently depressed prices. Now that copper prices have risen, in recent years (not sure about at the moment), there's been intermittent talk of starting some of the UP mining back up. Probably won't happen -- my guess. Too much investment, given current global volatility. And the relevant people are largely gone. More recently, foreign paper products production has been inflicting a further hit. The local town near where I stay lost its paper mill (for paperboard products) a few years ago. As one example. |
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It's not a natural resource, but if an industry moves then it, too, leaves people behind. And when it's a ghost city not a ghost town, it can take a long time to realize the money is gone, and it can leave a lot of people in the lurch.