Here is what the Duluth News-Tribune is reporting about that credible rumor I heard the other day regarding U.S. Steel’s operations on the Iron Range.
Mum’s the word on high-level meetings at Minntac Mine
Lee Bloomquist, Duluth News TribuneSeveral top-level U.S. Steel executives made a rare visit to Minntac Mine in Mountain Iron this week to discuss company strategies with Iron Range legislators.
Such visits usually signal a major company decision. Iron Range legislators said U.S. Steel asked them to keep the subject of the meeting confidential.
State Sen. Tom Bakk, DFL-Cook, characterized Wednesday’s meeting as positive, saying that U.S. Steel’s strategies could lead to a significant boost for the Iron Range.
U.S. Steel officials have also contacted steelworker leaders about company strategies.
U.S. Steel owns and operates two Iron Range taconite plants, Minntac Mine and KeeTac in Keewatin.
KeeTac produces about 5.4 million tons of iron ore pellets annually. However, it has one production line that has been mothballed for years. Minntac can produce about 14.6 million tons of iron ore pellets annually.
Scott Coleman, Minnesota Ore Operations general manager, said Thursday he could not comment on the nature of the discussion.
Iron ore pellets are in high demand globally as rapidly developing countries such as China and India build infrastructure. An 800,000-ton per year expansion at Northshore Mining Co. in Silver Bay is due to become operational near the end of the first quarter.
🙂