Mesabi Nugget under evaluation after losses

Jan 28, 2014 | 03:16 PM | Corinna Petry

Tags  steel, Steel Dynamics, SDI, Mesabi Nugget, Mark Millett, iron ore production, Corinna Petry

CHICAGO — The continued viability of Steel Dynamics Inc.’s (SDI’s) majority-owned Mesabi Nugget LLC operation is slated for careful evaluation after it logged losses in the fourth quarter, according to the company’s top executive.

The Hoyt Lakes, Minn., facility, which produces iron nuggets as feedstock for electric furnace steelmaking, achieves a monthly production rate of 30,000 tons per month but "severe Arctic weather has impacted advancements there," Mark D. Millett, president and chief executive officer of Fort Wayne, Ind.-based SDI, said during a Jan. 28 conference call with analysts.....

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