President Trump will unveil a plan for Mesabi Metallics to build an Iowa steel
complex with total investment of about $15 billion at a White House event on
Monday afternoon, with Mesabi executives attending. Mesabi, which recently
opened Minnesota’s first iron mine in 50 years, says the Iowa plant could begin
steelmaking by 2030 and is expected to create more than 1,700 jobs. Initial
capacity is targeted at roughly 7.5 mln tons a year, with potential expansion
to about 10 mln tons; Mesabi says the two planned plants would require about
$15 billion in total investment.
