Expert Predicts More Wisconsin Sand Mines Could Close

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MADISON, Wisconsin – An industry expert says the imminent bankruptcy of a large mining company reports financial problems that could cripple more Wisconsin-based mines due to an oversupply of sand in all parts of the country. the country.

Wisconsin Public Radio reports that Emerge Energy Services has entered into a debt restructuring agreement with its lenders last month. The company owns Superior Silica Sands.

CEO Rick Shearer said the restructuring negotiations were underway. The company may declare bankruptcy if a by-law is not canceled.

IHS energy consultant Markit says 75% of Wisconsin's mines, which supply oil and gas producers, may have to close. Samir Nangia explained that the excess supply was due to companies that were building more mines near oil fields in Texas and Oklahoma.