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This Week’s Market Buzz

  • A company that was working to start a frac sand mine in the towns of Alma and Adams, Wis., filed for bankruptcy, according to the Jackson County Chronicle. Terracor Resources filed for Chapter 15 bankruptcy in a federal court in Texas April 4. Terracor has been working to launch a frac sand processing facility and related rail spur – an effort that has drawn packed county zoning meetings and opposition from landowners and other members of the public.
  • Fairmont Santrol said it will lay off 55 employees at three facilities across Wisconsin. Officials with the company said the layoffs will come from the company’s mining facilities in Hagar City, Maiden Rock and Menomonie, Wis. The company cited a downturn in the U.S. oil and gas industry as the main cause for the job reductions. Superior Silica, Hi-Crush Proppants and Unimin also recently announced layoffs.
  • The Winona County, Minn., Board agreed to discuss banning new and expanded frac sand mines and handling facilities in rural areas of the county, according to the Winona Post. In a campaign organized by the environmentalist and sustainable agriculture group Land Stewardship Project (LSP), hundreds of citizens have written, emailed and called commissioners to urge them to ban the frac sand. It would require three commissioners' votes to ban frac sand.