Essar Steel Minnesota
Essar Steel Minnesota is a 6-million-ton-per-year integrated pellet plant on the Mesabi iron range in north-east Minnesota. It includes a concentration plant and direct reduced iron plant.
Latest News
Minnesota Governor Puts Support Behind Firm's Effort to Revive Stalled Iron Ore Project
04 October 2017 - Minnesota Gov. Mark Dayton has given his blessing to a firm looking to rescue the stalled Essar Steel Minnesota iron ore mine and taconite plant, reports the (Minneapolis, Minn.) Star Tribune.
Bankruptcy Judge Approves Reorganization Plan for Essar Minnesota Project
14 June 2017 - A U.S. Bankruptcy Court judge has given approval to a plan that, if successful, will allow the stalled Essar Steel Minnesota taconite mine and pellet plant to proceed to completion, reports the Duluth News Tribune.
DRI Plant Still in the Works for Cliffs
28 April 2017 - Iron ore miner Cliffs Natural Resources said it remains committed to building a direct-reduction plant and intends to make preliminary investments in the project in 2018, chief executive Lourenco Goncalves said Thursday.
New Ownership Taking Over Unfinished Minnesota Taconite Project
27 April 2017 - A Virginia billionaire and partners who include the United Kingdom’s Liberty House Group submitted the winning bid for the former Essar Steel Minnesota on Wednesday, offering to buy the half-finished taconite mine and pellet plant for US$550 million, reports the Minneapolis Star Tribune.
Two Look to Acquire Bankrupt Essar Steel Minnesota
11 April 2017 - Iron ore miner and an investor group are making competing bids for the former Essar Steel Minnesota, the half-built taconite mine and processing plant in Minnesota’s Iron Range, reports the Minneapolis Star Tribune newspaper.
Essar Minnesota Sues Parent for US$1 Billion and Hopes to Restart Project
13 January 2017 - The former Essar Steel Minnesota, which hopes to complete its half-finished taconite mine and pellet plant in Minnesota, has filed a lawsuit against parent Essar Global, alleging “a myriad of damaging actions” that helped starve it of cash, according to news reports.
Judge: Essar Minnesota Can Keep Public Mineral Leases -- For Now
17 November 2016 - A federal judge has ruled that the state of Minnesota can’t yet rescind bankrupt Essar Steel Minnesota’s public mineral leases, which now will remain a part of the company’s bankruptcy case at least until February, reports the Duluth News Tribune.
Essar Minnesota Lists US$1.1B in Liabilities
24 August 2016 - Essar Steel Minnesota owes US$1.1 billion, more than five times the value of its reported assets, reports the Mesabi Daily News newspaper.
Cliffs Natural Resources Breaks Ground on Pellet Project
15 August 2016 - North American iron ore miner Cliffs Natural Resources has broken ground on a US$65 million project that will allow for production of its new superflux pellet.
Essar Minnesota Names New Chief Executive
15 July 2016 - Essar Steel Minnesota has named a new chief executive to help guide the company through Chapter 11 bankruptcy and to help it complete its US$1.9 billion taconite mine and pellet plant, reports the Minneapolis Star Tribune.
Essar Minnesota Still Plans to Complete Minnesota Taconite Mine
12 July 2016 - Essar Steel Minnesota, which last week lost the public mineral leases related to the taconite mine and processing plant it has been building and filed for Chapter 11 bankruptcy, isn’t throwing in the towel.
Essar Steel Minnesota Loses Mineral Leases, Files for Bankruptcy
08 July 2016 - Essar Steel Minnesota, which had been building Minnesota’s first new taconite facility in years, filed for Chapter 11 bankruptcy on Friday, according to reports.
Essar Steel Minnesota Mineral Leases in Jeopardy
06 July 2016 - Essar Steel Minnesota has missed a deadline to reimburse the state of Minnesota US$66 million in incentives related to its stalled taconite mining project and now could lose its public mineral leases, reports the Minneapolis Star Tribune.
Contract Award Probably Spells the End for Essar Steel Minnesota Project
13 June 2016 - ArcelorMittal’s new long-term pellet supply agreement with iron ore miner Cliffs Natural Resources is likely the "final nail in the coffin" for the Essar Steel Minnesota taconite project, says a columnist for the Minneapolis Star Tribune.
Minnesota Governor Threatens To Take Away Mineral Leases From Startup Iron Ore Miner
14 April 2016 - Minnesota Gov. Mark Dayton has issued an ultimatum to would-be iron ore producer Essar Steel Minnesota, telling the company that if it doesn't line up the funding to finish its new taconite mine and processing facility, the state won't renew mineral leases.
Essar Steel 'Confident' It Can Finish New Iron Ore Mine, Pellet Plant
12 April 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.
Builder of Unfinished Taconite Facility Looks to Restructure Millions in Debt
28 March 2016 - Essar Steel Minnesota, the company building Minnesota’s first new taconite facility in years, owes approximately US$1 billion and has hired advisers to help it restructure its debt, reports the Reuters news service.
Minnesota Governor Gives Taconite Producer Final Offer to Repay Loan
29 December 2015 - Essar Steel Minnesota is reviewing a newly proposed timetable for repaying a US$66 million public loan on a project that hasn’t panned out the way officials had hoped.
Court Dismisses Lawsuit Against Essar Steel Algoma
04 December 2015 - A U.S. federal court has dismissed an iron producer’s lawsuit against Essar Steel Algoma, the company has announced.
Governor Tells Essar Steel Minnesota To Pay Up
01 December 2015 - Minnesota Gov. Mark Dayton has threatened to call due a US$67 million loan to Essar Steel Minnesota if the company doesn’t pay past due bills from vendors building the company’s new Nashwauk taconite plant by 2 December.
