[NASHWAUK, MN] – Kevin McKinnon, Deputy Commissioner of Economic Development at the Minnesota Department of Employment and Economic Development (DEED) recently visited Mesabi Metallics Company LLC (Mesabi Metallics) to tour the company’s mine, beneficiation plant and pellet plant in Nashwauk, Minnesota and discuss the economic impact of Minnesota’s first new mine in 50 years.
“We were honored to host Deputy Commissioner McKinnon at Mesabi Metallics,” said Joe Broking, President & CEO of Mesabi Metallics. “Minnesota’s Department of Employment and Economic Development works diligently to grow Minnesota’s economy statewide, and we were grateful for the opportunity to highlight Mesabi’s economic impact—from creating hundreds of family-sustaining jobs on the Range, to growing Minnesota’s exports by powering the global transition to Green Steel, to expanding the budgets of our school districts through production taxes. We are proud of our positive partnerships with Minnesota’s state agencies as we work together to create a stronger, greener economic future for our state.”
“Minnesota’s Iron Range is a historic driver of our state’s economy and my visit to Mesabi Metallics illustrated the impact the Range will continue to have in the years ahead,” said DEED Deputy Commissioner Kevin McKinnon. “We look forward to working with Mesabi Metallics as they invest in the Iron Range and grow our economy.”
Mesabi Metallics is constructing a state-of-the-art mine to support a seven million ton per year beneficiation plant and a seven million ton per year pellet plant to produce premium Direct Reduction (DR) grade pellets, strategically positioned to meet the demand of the Electric Arc Furnace market in the global transition to Green Steel. The company controls over 16,000 acres of land in Nashwauk and multiple decades of iron ore resources. The project is under construction and is on track to commence operations in the first quarter of 2026. Mesabi Metallics has already invested more than $1.8 billion in this project, which is fully funded by equity, and is further investing about $500 million to complete the project. The total investment of $2.3 billion will be one of the largest private investments ever made in Minnesota.
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About Mesabi Metallics Company LLC
Mesabi Metallics Company LLC, an Essar Group company, is constructing a state-of-the-art mine to support a seven million ton per year beneficiation plant and a seven million ton per year pellet plant to produce premium Direct Reduction (DR) grade pellets, with multiple decades of resources over 16,000 acres in Nashwauk, Minnesota. Once completed, it will be the first new mine and pellet plant in Minnesota in almost 50 years. Mesabi’s DR grade iron ore pellets will be strategically positioned to meet the demand of the Electric Arc Furnace market, ensuring supply chain security for DR grade iron pellets in the United States and replacing foreign imported pellets. The endeavor is one of the largest private sector investments in Minnesota. Mesabi Metallics has invested over $1.8 billion in the project and will further invest $500 million to complete the project, which is on track to begin commercial operations in the first quarter of 2026.
Mesabi Metallics is dedicated to being a positive force in the community. The company minimizes its environmental footprint through innovative practices and efficient resource management, with an eye toward enabling the production of decarbonized Green Steel. Mesabi also proudly partners with Iron Range communities to support local projects and priorities, participating in educational initiatives, development programs and environmental stewardship efforts.
Mesabi Metallics’ media kit is available for download here.
