Posted on 08 Oct 2026
The Iowa state government announced on September 28 that Mesabi Metallics plans to build a new integrated steelworks which the government described as being the largest steel manufacturing investment in American history.
Iowa Governor Kim Reynolds and Mesabi Metallics Chairman Rewant Ruia announced the plan at the White House on the same day alongside President Donald Trump.
The Iowa facility will have a steelmaking capacity of 7.5 million tonnes/year in its first phase, with total capacity planned to eventually reach around 10 million t/y. Production is targeted to begin in 2030, according to Mesabi Metallics and U.S. government statements.
At full capacity, its planned output would be equivalent to around 12% of U.S. crude steel production in 2025, which stood at 82 million tonnes, according to the World Steel Association data.
Backed by India-based Essar Group, Mesabi Metallics plans to invest $15 billion in the Iowa facility, with another $3 billion earmarked for completing its iron ore mine and pellet plant in Nashwauk, Minnesota. Together, the two operations are designed to form an integrated mine-to-mill supply chain, with Minnesota iron ore processed into direct-reduction-grade pellets for use at the Iowa steel complex, according to the statements.
The Minnesota operation is designed to produce up to 7 million t/y of DR-grade iron ore pellets, providing feedstock for the Iowa facility and linking domestic iron ore mining with downstream steel production using electric arc furnace technology, it said.
Source:Mysteel Global
