Essar Steel 'Confident' It Can Finish New Iron Ore Mine, Pellet Plant
04/12/2016 - Essar Steel Minnesota chief executive Madhu Vuppuluri said he and the company are “optimistic” that they’ll raise the rest of the money needed to finish building a new taconite mine and processing facility in northern Minnesota, according to the Duluth News Tribune newspaper.
“The strong project fundamentals put the company in a favorable position to access the required capital," he said, according to the newspaper.
Essar Steel Minnesota is building a US$1.9 billion open pit mine and taconite pellet plant in Minnesota’s Iron Range, the state’s first greenfield mining project in more than 40 years. Progress has come in fits and starts, but the facility was to have opened this year.
However, the project has run out of funding and work is at a standstill.
The News Tribune has the full story here.
Essar Steel Minnesota is building a US$1.9 billion open pit mine and taconite pellet plant in Minnesota’s Iron Range, the state’s first greenfield mining project in more than 40 years. Progress has come in fits and starts, but the facility was to have opened this year.
However, the project has run out of funding and work is at a standstill.
The News Tribune has the full story here.
