Mesabi Metallics

Gov. Kim Reynolds signed into law a measure that would allow the state of Iowa more tax incentives for a steel mill project being considered in southeast Iowa after lawmakers passed the bill in a special session Oct. 2, 2026.

Iowa Gov. Kim Reynolds signs law for up to $1.4B in tax breaks for Mesabi Metallics

Robin Opsahl | Iowa Capital Dispatch

The Republican-controlled Iowa Legislature met in special session to nearly double the state's allowable tax incentives as Mesabi Metallics plans a steel mill there.

A person walks in front of a Mesabi Metallics sign on Nov. 18, 2025, at Mesabi Metallics Business Office location in Nashwauk.

Local News

Mesabi Metallics chooses Iowa for $15B steel plant after voicing MN incentive concerns

Emma Krab

The Mesabi Metallics plant, which will source iron from the company's mine in Nashwauk, may begin producing steel as early as 2030.

A large crowd gathers at the Mesabi Metallics mine near Nashwauk to hear remarks from federal officials on Sept. 17, 2026.

Local News

Mesabi Metallics eyes $5 billion expansion as production, federal assistance ramp up

Emma Krab

The mining company celebrated a $770 million federal loan and the production of its first concentrate at a blast event Sept. 17, 2026. Two days earlier, it announced the "next phase of investment" at an Itasca County Board meeting.