Essar signs power deal for Minn. project

Jul 28, 2011 | 05:26 PM | Anne Riley

Tags  Essar Steel Minnesota, Essar, pellets, DRI, steel, iron ore, Anne Riley

NEW YORK — Essar Steel Minnesota LLC has signed a long-term power agreement for its in-development integrated steelmaking complex on Minnesota’s Mesabi Iron Range, moving the project one step closer to operation.

Under the terms of the deal, which runs through at least April 2022, the company will buy power from the city of Nashwauk, Minn., which buys electricity on a wholesale basis from Duluth, Minn.-based utility Minnesota Power.

"Securing this agreement is a critical step in keeping our project on track," Steve Rutherford, project director of Essar Steel Minnesota, said in a statement.....

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