NASHWAUK — State Auditor Julie Blaha toured progress of Mesabi Metallics’ direct-reduction grade iron ore pellet plant earlier this week.
The 7-million metric ton per year plant in Nashwauk is projected to start commercial operations early in 2026.
Direct-reduction grade iron is most cost- and energy-effective for use in electric furnaces, which is key for the global production of green steel, "materially reducing carbon emissions from the manufacturing and consumption of steel," according to a news release from Mesabi Metallics.
"After years of uncertainty, it’s encouraging to see Mesabi Metallics breathing new life into this major mining operation," stated Blaha in a the release.
"Minnesota’s mining history has always been key to our economy, and this project will continue to drive our growth. Seeing an employee parking lot full of cars is a clear sign of the opportunity this project is creating."
Mesabi Metallics has so far invested over $1.7 billion into the project currently under construction on over 16,000 acres of land.
Once completed, it will be the first new mine and pellet plant in the state in nearly 50 years, and one of the state's largest private-sector investments, according to the release.
“Our growing team is making real strides to finish construction of this project, and with the continued partnership of leaders like Auditor Blaha, we are on track to start commercial operations in the first quarter of 2026,” stated Joe Broking, Mesabi Metallics president & CEO.
