The state will now reopen the land around the proposed site, to the public. Gov. Walker had signed a bill restricting access to certain acres.
Last month, G-tac closed its office in Hurley saying a mining operation did not appear to be feasible. The region encompassing the Penokee Hills is rich in wetlands and waterways, the reason some people and groups opposed a potential mine.
It would have meant opening a 4.5 mile open pit, to extract the iron ore.
According to the Wisconsin DNR, the company has officially withdrawn its pre-application notice.