Donald Trump announces $15 billion Iowa steel plant, Mesabi Metallics
Donald Trump just announced a massive $15 billion steel plant coming to Iowa, set to be the biggest in US history.
Built by Mesabi Metallics, part of Essar Group, the project aims to boost American manufacturing and create thousands of jobs.
Mesabi's chairman put it simply: "Thank you, US President Donald Trump, for bringing back the importance of building things in America... With the new steel complex in Iowa, we will complete the fully integrated American supply chain," said Rewant Ruia.
New Minnesota iron mine supplies Iowa
The Iowa plant will get its iron ore from a brand-new mine in Minnesota, the first new iron ore mine in the United States in more than 50 years.
Having invested more than $2.5 billion in developing the mine, the mine is expected to produce about 7.5 million tons of iron a year, and the Iowa plant could eventually rise to 10 million tons annually and create at least 1,750 permanent jobs once operational.
The whole project lines up with Trump's push for more homegrown manufacturing and less reliance on imported steel.