SDI completes land buy for iron nugget plant

Dec 03, 2007 | 10:12 AM | Michael Cowden

Steel Dynamics Inc. (SDI), 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 is now under way on the project, which is expected to have an annual capacity of 500,000 tonnes when it begins production in mid-2009.

The former LTV Corp. 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 Inc., Cleveland, which had acquired it out of bankruptcy from LTV. SDI said it also had acquired mineral rights for the land as well as for other property nearby.....

Latest Pricing Trends


Are you stocking more inventory today than 18 months ago?


View previous results