Minnesota to cancel leases for Mesabi Metallics’ mine near Nashwauk
The Minnesota Department of Natural Resources (DNR) is reportedly terminating the leases for the stalled Mesabi Metallics taconite mine on the Iron Range, after the company failed to meet deadlines imposed by the state.
Mesabi reportedly failed to submit documents and to secure funding for the project by May 1.
Citing a DNR statement, the StarTribune reports that Mesabi could not demonstrate that it had $200-million available in its accounts, as required by a deal the state and the company made in December.
The United Steelworkers (USW) has welcomed the DNR announcement, stating that the decision to cancel Mesabi’s leases clears the way for another company to develop the project near Nashwauk.
USW notes that Cleveland-Cliffs, which already operates other iron-ore mining sites in the region, is a likely candidate to take over the half-finished project.
“Iron-ore mining is an essential part of the economy of Minnesota, and an essential piece of the puzzle when it comes to producing the steel we need to rebuild our national infrastructure,” USW district 11 director Emil Ramirez said in a statement on Thursday.
“Making sure that this project is in the hands of a company that will move forward in a timely, responsible and sustainable way is the best decision for the people of Minnesota.”
According to the StarTribune, Mesabi has said that it remains committed to the project and has blamed the Covid-19 crisis in India for the funding delay.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation