WCCO EYE4 LOGO WCCO Radio wcco-eye-blue01, ww color blue

Local

Minn. Company Picks Indiana For Iron Pellet Plant

View Comments

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up
Today's Most Popular Video
  1. 4 Things To Know For July 22, 2014
  2. This High-Tech Cooler Is 'The Coolest'
  3. Police Seek Pawn Shop Robbers Who Shot Worker
  4. Closing Arguments Expected Today In Ventura Trial
  5. What's Your Favorite Place In St. Paul?

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 This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus