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Steel Dynamics Partners with Kobe Steel in Minnesota

Steel Dynamics Partners with Kobe Steel in Minnesota

Tuesday, March 6, 2007
 
A new $235 million iron-making plant may soon be coming to Minnesota, courtesy of flat-rolled steel supplier Steel Dynamics Inc., Fort ne, IN, which has agreed to partner with Kobe Steel on the project. The proposed Mesabi Nugget plant in the Hoyt Lakes region of Minnesota hinges on obtaining financing, including economic development assistance from the state government, according to an AP report. Mesabi Nugget, according to its website www.mesabinugget.com, is a leader in the development and commercialization of the ITmk3 iron nugget process, a proprietary process developed by Kobe Steel. The process turns Mesabi iron-ore concentrate into iron nuggets that are 97-percent metallic iron, compared to 65-percent iron in the form of oxide for a taconite pellet.

 

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