Giant leaps expected to continue in steel processing
Oct 31, 2011 | 07:00 PM
| Bill Beck
Tags
Iron mining industry,
iron pellet production,
Essar Steel,
Yung C. Shin,
Bill Beck
One development that the entire iron mining industry in North America is watching closely is a plan by India’s Essar Steel Ltd. to resume iron pellet production on Minnesota’s Mesabi Range—and using the taconite pellets to make steel in Minnesota rather than shipping them to a blast furnace elsewhere.
Essar Steel, which purchased Canada’s Algoma Steel Inc. for $1.6 billion in 2007, is rehabilitating a long-closed taconite processing plant near Nashwauk, Minn., with plans to make 6.5 million tons of iron pellets annually. Essar told analysts that for the foreseeable future it will ship pellets to the Essar Steel Algoma Inc. steelmaking complex near Sault Ste. Marie, Ontario, but the company hopes to begin making steel in Minnesota by 2015.....
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