Mesabi Metallics to Build US$15 Billion Steel Mill in Iowa
09/28/2026 - U.S. President Donald Trump announced Monday that Mesabi Metallics is planning to build a US$15 billion steel mill in Iowa, the Wall Street Journal reported.
The site will consist of two plants in eastern Iowa; each will process ore to use in electric arc furnaces to make steel. Combined, both sites are expected to cost about US$15 billion, the Wall Street Journal reported.
“The plant will produce some of the highest quality, most affordable steel anywhere in the world,” Trump said during the press conference.
A White House official said that the plant is expected to open in 2030 and create over 1,700 jobs. It will have an estimated capacity of about 7.5 million metric tons annually, with plans to possibly expand to 10 million metric tons in the future, reported the Wall Street Journal.
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“The plant will produce some of the highest quality, most affordable steel anywhere in the world,” Trump said during the press conference.
A White House official said that the plant is expected to open in 2030 and create over 1,700 jobs. It will have an estimated capacity of about 7.5 million metric tons annually, with plans to possibly expand to 10 million metric tons in the future, reported the Wall Street Journal.
For more information, click here.
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