Magnetation, LLC announced this week that it will build two plants in northern Minn. for iron ore recovery. It will also convert an old ethanol plant into an iron ore pellet plant in Reynolds, Indiana. Superior, Wis. had been competing for the facility.
The company currently processes mining waste to reclaim iron ore in two Minnesota locations: Keewatin and Taconite. According to an article in the Star Tribune, each new plant is expected to bring 120 jobs to the state and generate $120 million of investments. Read the full article HERE.
The iron ore recovered at the facilities will be processed into pellets, with some of it shipped to the new Indiana plant for processing. Those pellets are used to make steel. The new plants will be built near Coleraine and Calumet.