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Mesabi Metallics|United States|Manufacturing|Steel|Donald Trump|Iron Ore|Iowa|Minnesota
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Trump to unveil planned $15bn Iowa steel project

Mesabi Metallics' iron-ore mine in Minnesota

Mesabi Metallics' iron-ore mine in Minnesota

28th September 2026

By: Reuters

  

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President Donald Trump will announce on Monday a Minnesota company's plan to build a $15-billion steel mill in Iowa, a White House official said, a major investment that the administration is highlighting as it seeks to promote domestic manufacturing ahead of the November midterm elections.

Trump is expected to unveil the proposal at the White House with executives from Mesabi Metallics, which recently opened Minnesota's first new iron-ore mine in 50 years, a White House official said.

The announcement was first reported by the Wall Street Journal.

The proposed mill would initially have annual production capacity of 7.5-million tons, making it one of the largest steel plants in the US. Later additions could lift capacity to about 10-million tons a year, the White House official said.

Edited by Reuters

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