MSI Iron Range project eyeing Minnesota loan

Dec 15, 2004 | 10:09 AM | John E. Sacco

The board of Minnesota economic development agency Iron Range Resources (IRR) might give a $5-million boost to a revived proposal to construct a $1.7-billion iron ore plant and steel mill near Nashwauk, Minn.

Minnesota Steel Industries LLC (MSI) is re-energizing a pelletizing, direct-reduced iron (DRI) and steelmaking project initiated in 1996 by the defunct Minnesota Iron & Steel Co.

Earlier this year, MSI offered a letter of intent to the Itasca County Board of Commissioners for the project, which could bring 760 jobs to the Iron Range (AMM, Aug. 31). As proposed, the project would produce 2.4 million tons of hot-rolled steel annually at a steelmaking plant at the former Butler Taconite west operation in Nashwauk. Butler Taconite closed in 1986 as a result of bankruptcy and was later razed.....

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