Mesabi Metallics began iron ore extraction Thursday at its $2.5 billion Nashwauk facility. A single blast dislodged 1.3 million tons of ore to mark the start of operations. The project reached this milestone after nearly two decades of development setbacks. This facility represents Minnesota's first new taconite mine in approximately 50 years.
The mine will produce roughly seven million tons of iron-ore pellets annually. A dedicated processing plant is scheduled to come online in October. Mesabi plans to manufacture high-quality direct-reduction grade pellets. These pellets serve the expanding electric-arc furnace segment of the steel industry.
The project is expected to create 350 permanent jobs. The operation provides a significant economic boost to the regional mining sector.