Mesabi Metallics Iron Ore Project Royalty Acquisition
Sector: Metal • Location: Nashwauk, Minnesota, United States
Source: Stock Titan
The Metals Royalty Company Inc. (TMCR) has entered into a definitive agreement to acquire a 1.0% index-priced gross overriding production royalty with a revenue floor on the Mesabi Metallics iron ore project in Nashwauk, Minnesota. The project is a large-scale merchant direct reduction (DR) grade iron ore mine and pellet plant spanning over 16,000 acres, targeting first production in the second ha
- Status
- Under Construction
- Sector
- Metal, Government
- Location
- Nashwauk, Minnesota, United States of America
- Updated
- 22 Jul 2026
- Source
- Stock Titan
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Project Information
Participants
| Not available for this record. |
Status
Original status | under construction |
Taiyo status | Under Construction |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | The Metals Royalty Company Inc. (TMCR) has entered into a definitive agreement to acquire a 1.0% index-priced gross overriding production royalty with a revenue floor on the Mesabi Metallics iron ore project in Nashwauk, Minnesota. The project is a large-scale merchant direct reduction (DR) grade iron ore mine and pellet plant spanning over 16,000 acres, targeting first production in the second half of 2026 and ramp-up to full capacity in 2027. The project is approximately 93% complete with over $2.5 billion planned investment in core infrastructure and is backed by Essar Group with strong financial and government support. |
Original sector | Mining |
Budget |
Location
Country | United States of America (USA) |
State | Minnesota |
City | Nashwauk |
Source
Source | Stock Titan |
URL |
More Details
Record type | Project |
Sector | Metal, Government |
Article published date | 2026-05-09 |
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