ADVERTISEMENT

ADVERTISEMENT

Magnetation breaks ground on plant near Coleraine

COLERAINE, Minn. — Magnetation has broken ground on a fourth plant in northern Minnesota.

The $155 million iron ore plant is located behind Mt. Itasca, just west of Coleraine.

The plant will have the capacity of 2 million tons of concentrate, which will be sent by rail to their pellet plant in Reynolds, Ind.

The plant is expected to bring 160 full-time jobs. Chief Operating Officer Matt Lehtinen said the average pay of their mining jobs is $90,000.

Magnetation opened their first plant in Keewatin in 2009 and since has opened two more. One is a partnership with Steel Dynamics, called Mining Resources.

ADVERTISEMENT

A ground-breaking ceremony for the fourth plant was held Thursday. It is expected to be running by January 2015.

What To Read Next
Get Local

ADVERTISEMENT