US President Trump has announced that Mesabi Metallics plans to build a US$15 billion ($21.66 billion) steel mill in southeastern Iowa, as part of a US$18 billion mine-to-mill investment.
The steel mill will comprise two plants that will process direct reduced (DR)-grade iron ore pellets from Mesabi Metallics’ Minnesota mine into steel via electric arc furnaces.
The DR iron technology involves taking the iron ore mined in Minnesota, removing oxygen at temperatures below its melting point, and creating solid metallic iron. Feeding the DR iron into the electric arc furnace while it is still hot reduces the energy required to melt it, improving the efficiency and productivity of the steelmaking process.
The Iowa complex is expected to have an initial capacity of 7.5 million tonnes (Mt) per year, with a potential expansion to 10Mt.
Mesabi Metallics’ project is described as the largest single investment in a steel complex in US history, with production targeted to begin in 2030. The project anticipates creating roughly 1,700–2,000 permanent jobs and up to 6,000 construction jobs.
During construction and the first 10 years of full operation, Mesabi Metallics’ investment in US-made steel will produce approximately US$95 billion in total economic output.
Mesabi Metallics is building a new generation of US steel — connecting Minnesota iron ore with modern steelmaking in Iowa to create an integrated, all-US supply chain.
Write to Aaliyah Rogan at Mining.com.au
Main image: Mesabi Metallics
