Iron ore price dip a cause for (measured) concern

BusinessNorth‘s Ron Brochu has a fascinating story on the recent downturn in iron ore prices. Though no major production slowdowns are currently slated for the iron mines here in northern Minnesota, several future projects are facing some serious headwind, according to this story.

I wrote about the slow progress at Essar Steel in Nashwauk earlier this morning.

Mining is, by nature, cyclical. The regional economy of Minnesota’s Iron Range has actually stabilized (at a very slow burn) since the iron and steel industries became more efficient over the last 20 years. But for every up there is a down. The only question remaining will be how long this “down” will go before we see another “up.”

Check out the story.

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