Good news for our economy: US Steel is going to upgrade two mines here in Minnesota, creating a special feedstock that will be used in mills across the country.
Here’s five fast facts about Minnesota’s Mining Upgrade.
- ⚒️What is it, exactly? - US Steel plans to build a $150M direct-reduced-grade pellet plant in either Mountain Iron or Keetac.
- 🏗️Pellets? - DR-Grade pellets serve as feedstock for making a special kind of iron for furnaces that make steel. The pellets will be sold to a third party.
- 👷Steel for Who?- The mills that use these pellets create more than 70% of the steel in the country. Most of those mills are located around the Great Lakes.
- 🪨When Does This Start? - That’s the catch. The state hasn’t approved the project, nor has it approved which mine US Steel can use. They’re hopeful, however, that they’ll be able to start this year. Chances of that are REALLY good since the Governor is up for re-election. Just saying.
- 💰So…Jobs? - There definitely will be a significant amount of new jobs created by the mine. There’s no telling when the hiring will start, but again, this is an election year…
🔥Bottom line: An upgrade of this size is a big deal. Not just for the state’s ore output, but also for the large number of jobs it will create. Both unskilled and skilled laborers are going to have some nice opportunities.
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