Minnesota Steel is developing a $1.6 billion
fully integrated, onsite, mining through steelmaking project on the Mesabi range in northern Minnesota. It is designed to produce up to 2.5
million tonnes of steel products each year and employ up to 700 people.
Minnesota Steel will use all commercially proven and well established
technologies. They will be the latest and most environmentally
sensitive, utilizing natural gas and electricity to produce steel.
Having all processes on one site allows Minnesota Steel to minimize
product movement and maximize energy savings. This, combined with our
captive iron ore resource, will result in Minnesota Steel being the low
cost steel producer in North America.
Minnesota Steel also will be well positioned to capitalize on a strong
market demand in the USA for high quality steel products, which
currently is being met by overseas imports and is expected to grow over
the next several years.
The main components of the project are:
- A captive, open pit iron ore mine
- Onsite processing of the ore to
produce high grade concentrate
- Iron pellet production in a 4.1
million tonne facility
- Production of up to 2.8 million tonnes
of Direct Reduced Iron (DRI)
- Construction of a new 2.5 million
tonne steel manufacturing facility including:
- Electric Arc Furnaces
- Thick slab casters
- Thin soft reduction slab casters
- Vacuum degassing and ladle treatment
furnaces
- Hot rolling mills

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