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Mesabi Metallics

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Mesabi Metallics Secures US$150 Million for American DR-Grade Iron Ore Mine and Pellet Plant

08 April 2026 - Mesabi Metallics Co. LLC along with Essar Group announced it has secured US$150 million of financing from Macquarie Group for the startup of its direct reduction (DR)–grade iron ore mine and pellet plant in Nashwauk, Minn., USA, in the third quarter of 2026.

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