Trees Of Hope: Donate to Minnesota Ovarian Cancer Alliance at 1-800-542-9226 or click here. | More

Minn. Company Picks Indiana For Iron Pellet Plant

REYNOLDS, Ind. (AP) — A Minnesota company has selected a northern Indiana site for an iron ore pellet plant costing up to $350 million to build.

Magnetation announced Tuesday it would build the plant at the White County town of Reynolds where construction of a VeraSun ethanol plant was suspended five years ago.

Grand Rapids, Minn.-based Magnetation picked the site about 70 miles north of Indianapolis despite passage of a Minnesota law the company wanted to streamline environmental permitting for the new plant.

Magnetation says the plant should be operational by early 2015 with about 100 employees.

The company says the plant will process iron ore concentrate from northern Minnesota. The plant will produce iron ore pellets for West Chester, Ohio-based AK Steel Corp., which is investing nearly $300 million into a Magnetation subsidiary.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From WCCO | CBS Minnesota

Trees Of Hope
Good Question

Listen Live