Work is ramping up in Nashwauk, at the former Butler mine. The goal is to have Mesabi Metallics ready for mining by summer 2025.
They plan to be the first new mine in the Range in almost 50 years.
About 300 contractors are currently working on its construction. That number will increase in the winter, when more internal work will get underway. “There is a lot of excitement locally,” says Joe Broking, CEO.
We got a tour on Monday before the weather turned. The concentrator building is currently by far the most complex.
According to Broking, it is an investment of $2.2 billion, with all the necessary money in the bank. “The capital is fully committed,” Broking shared.
The company is working with regulatory authorities to amend permits.
The plan is to have the capacity to process 7 million tons of DR grade pellets, which are used in the greener style of steelmaking.
“There are only a few customers in North America today who can purchase DR quality pellets, we all know who they are. We focus on serving these customers and decarbonizing the global steel market. We are confident that we can sell in Europe, the Middle East and Africa,” says Broking.
It has been 16 years since Essar did groundbreaking work here. There have been starts and stops, delays and disappointments.
But now Mesabi emphasizes that more people are focusing on progress.
“Of course there are people who are still skeptical about the project. We understand that. But ultimately, we invite stakeholders to come and take a look. You can feel the excitement and see the construction activity. This project is absolutely going to happen,” Broking added.
Ravi Ruia visits about once a month. The Ruia and Mesabi families have contributed $400,000 to community causes in the past year.