NEW YORK U.S. iron ore
concentrate producer Magnetation LLC will invest between $300
million and $350 million to build an iron ore pellet plant in
The Grand Rapids, Minn.-based
company will begin constructing the 3-million-tonne-per-year
pellet plant in the first quarter of 2013, and expects to start
production by the end of 2014 or early 2015.
The company will transport iron
ore concentrate from its mineral recovery operations in
northern Minnesota to the new plant, which will employ some 100
to 120 people.
The plants iron ore pellet
production will be used by AK Steel Corp., West Chester,
Magnetation LLC is a joint
venture between Magnetation Inc., which owns a 50.1-percent
stake in the company, and AK Steel, which has a 49.9-percent
The company plans to invest another $120 million to add two
additional iron ore concentrate reclamation plants in
A version of this article was
first published by AMM sister publication Steel First.