NE Minn. company opens second plant to recover iron from waste

A northeast Minnesota company is expanding operations to recover iron from old piles of mining waste.

Magnetation Inc. has one production plant so far, near Keewatin. It's been digging through old mine tailings to recover hematite, an iron ore used in steelmaking.

Now, the company plans a second production plant to fill a new seven-year iron contract with an unnamed domestic steel producer. The new plant will produce up to 800,000 tons of ore a year.

Magnetation vice president Matthew Lehtinen says it's the second of several plants the company envisions for Minnesota.

"We expect this to be, hopefully, plant two of six different plants," he said.

The new operation will create about 50 jobs described as high paying and sustainable.

Magnetation has been recovering low-grade ore since early last year. Customers include Mesabi Nugget in Hoyt Lakes.