SDI finalizes land buy for nugget production plant

Dec 03, 2007 | 07:12 AM | Michael Cowden

Steel Dynamics Inc., Fort Wayne, Ind., has completed a deal to buy approximately 6,000 acres of land on the Mesabi Iron Range where it plans to build and operate an iron nugget-making plant.

Construction in now under way on the project, which is expected to have annual capacity of 500,000 tonnes. Production is expected to begin in mid-2009, SDI said.

Iron ore mining company and processor Cleveland-Cliffs Inc., Cleveland, had previously operated a taconite mine on the land in Hoyt Lakes, Minn., the mini-mill steelmaker said Monday. SDI bought the land from Cleveland-Cliffs, which had acquired it from the former LTV Corp. SDI said it had also acquired mineral rights for the land as well as for another nearby property.....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results