news topics: metals & mining

Latest financing builds on recent capital momentum for structurally important American iron ore project [NASHWAUK, MN] – Mesabi Metallics Company LLC (Mesabi Metallics), backed by Essar Group, today announced that it has secured $150 million of financing from Macquarie Group, supporting the Q3 2026 startup of its world-scale Direct Reduction (DR) grade iron ore mine […]

Financing supports U.S. critical mineral security and helps reshore the American steel supply chain [NASHWAUK, MN] – Mesabi Metallics Company LLC (Mesabi Metallics), backed by the Essar Group, today announced that it has entered into a new $520 million senior secured credit facility with Valor Mining Credit Partners II, L.P. (VMP II), a dedicated mining […]

[NASHWAUK, MN] – Mesabi Metallics Company LLC (Mesabi Metallics) announced today that it has acquired an additional office location in Nashwauk, Minnesota. The strategic investment, located at 500 East Platt Avenue, the former Park State Bank branch office along US Highway 169, underscores Mesabi Metallics’ commitment to the community and its ongoing growth. The 8,352 […]

This marks the fifth consecutive year that Mesabi Metallics has repaid Itasca County for a grant from the Minnesota Department of Employment and Economic Development, bringing the total grant repayment to $42 million [NASHWAUK, MN] – Mesabi Metallics Company LLC (Mesabi Metallics), a wholly-owned subsidiary of Essar Group (Essar), today confirmed that with continued financial […]

Auditor Blaha’s visit highlights the statewide significance of the Mesabi Metallics project [NASHWAUK, MN] – This week, Minnesota State Auditor Julie Blaha visited Mesabi Metallics Company, LLC and toured the growing construction of the company’s 7-million metric ton per year Direct-Reduction grade iron ore pellet plant. Auditor Blaha’s visit highlights the statewide significance of the […]

On Wednesday, Mesabi employees picked up trash and debris along Highway 169 from Nashwauk to Keewatin as part of the company’s commitment to environmental stewardship [NASHWAUK, MN] – Today, employees of Mesabi Metallics Company, LLC dedicated their day to picking up trash and debris along Highway 169 from Nashwauk to Keewatin. Mesabi Metallics sponsors this […]

Mesabi Metallics donated $20,000 for the project, which includes new playground equipment, a new kids hockey rink, replaced lighting structures, new fencing and more  [WABANA, MN] – Last week, Mesabi Metallics celebrated the groundbreaking of a new recreation complex at the heart of the Wabana Township. Mesabi, an advanced-construction stage taconite mine and pellet plant […]

Hibbing Youth Baseball, which includes 24 teams and over 200 players, will be sponsored by Mesabi Metallics for their 2025 season [HIBBING, MN] – Today in Hibbing, Mesabi Metallics celebrated Hibbing Youth Baseball’s successful 2024 season with an event at Bennett Park with treats from Sunrise Bakery. The League includes 24 teams and over 200 […]

The ruling sets the stage for a trial on Mesabi’s claims, for which Mesabi is seeking approximately $1.9 billion in damages from Cleveland-Cliffs for impeding Mesabi from building its iron ore mine and pelletizing plant in Itasca County, Minnesota [NASHWAUK, MN] – In a substantial victory for Mesabi Metallics Company LLC, a federal court in […]

[NASHWAUK, MN] – Mesabi Metallics Company LLC announces an ambitious expansion of its recruitment efforts this fall, as the company eyes completion of its state-of-the-art, 7-million metric ton per year taconite mining and Direct Reduction grade pellet plant, which is on track to start commercial operations in the first quarter of 2026. As of this summer, […]