The U.S. Export-Import Bank is back in the news again, and that has not meant good news for South Milwaukee-based Bucyrus recently.
At issue is the bank’s potential funding of a mining project in South Africa — and the potential impact that that decision could have on jobs at either Bucyrus or Milwaukee-based Joy Global (which would likely make the shovel needed for the project). Read more in this Journal Sentinel story. From it:
If the plant gets financed, either Bucyrus or Joy Global would likely win a contract to build a coal mining dragline – a huge machine that Bucyrus says would take 30 months to manufacture at a cost of roughly $120 million.
It is work that could be started this year, said Bucyrus CEO Tim Sullivan.
“We know the mine would need a dragline,” he said. “If the Export-Import Bank processes this decision the way we hope they will, it means jobs in Milwaukee one way or the other.”
South Milwaukee Blog 