Today’s column (gift link) took a lot of time, including three site visits, and quite some research as well. But on the other hand, it is a continuation of a general theme I’ve never stopped repeating. We must add value to the Iron Range — in mining, yes, but also in our overall economy and resilience to change.
I’m happy to report that we’ve seen significant progress in value-added iron ore. Most notably, the $2.5 billion iron ore project Mesabi Metallics remains under construction. That facility aims to put Minnesota ore into the modern electric arc furnace supply chain. Local mines owned by legacy companies like U.S. Steel and Cleveland-Cliffs are only beginning to explore this space.
“You’re helping deliver the American dream 2.0, said John Javonovic, chair of the Export-Import Bank of the United States on Sept. 17.
Javonivic was at Mesabi Metallics to announce a $770 million EXIM Bank loan to the company, allowing it to finish its current iron ore plant. However, significant work remains ahead, both in Nashwauk and in the next phase of Mesabi’s plans. The company is exploring a new direct-reduced-iron plant in Kentucky.
Likewise, two other new companies, MagIron and North American Iron, plant to turn legacy ore stockpiles into pig iron. MagIron wants to ship concentrate to the former Magnetation processing plant in Indiana. North American Iron wants to build a facility in North Dakota.
All three companies will hire Iron Range workers, but you can see that the “value” component of the processes are all located in other states for various reasons. We should be planning for ways to capture the knowledge we’re gaining here to spin off related and even unrelated industry. A trip to a research laboratory here on the Iron Range showed me how we can start.
Read “Minnesota iron industry forges new future while chasing billions in financing” in the Monday, Sept. 28, 2026 edition of the Minnesota Star Tribune.
Aaron J. Brown is a columnist and member of the editorial board for the Minnesota Star Tribune. His new book about Hibbing Mayor Victor Power and his momentous fight against the world’s largest corporation will be out soon.
