New Owner of Stalled Taconite Project Prepares to Move Forward
12/28/2017 - The Essar Steel Minnesota project has emerged from Chapter 11 bankruptcy under new ownership and is firing new legal shots at would-be competitor Cleveland-Cliffs Inc., reports the Duluth News Tribune newspaper.
According to the newspaper, Mesabi Metallics Co. LLC, the successor to Essar Steel Minnesota, will now look to restart work on the stalled taconite mine and pellet plant and begin work on an adjacent hot-briquetted iron plant this spring.
Meanwhile, the company has filed a complaint in federal court over Cleveland-Cliff’s acquisition of mineral leases on land Mesabi had intended to mine.
The News Tribune has the full story here.