Mesabi Metallics Iron Ore Project Royalty Acquisition
Sector: Metal • Location: Nashwauk, Minnesota, United States
Source: AOL
The Metals Royalty Company is acquiring a 1% production royalty interest tied to the Mesabi Metallics iron ore project in Nashwauk, Minnesota. The project spans over 16,000 acres and is expected to produce DR-grade pellets used in electric arc furnace steelmaking, a cleaner alternative to traditional blast furnace steel production. The acquisition is part of a $132.5 million deal, including cash a
- Status
- Closed
- Sector
- Metal, Steel
- Location
- Nashwauk, Minnesota, United States of America
- Updated
- 22 Jul 2026
- Source
- AOL
ConstructChat
Ask ConstructChat about Mesabi Metallics Iron Ore Project Royalty Acquisition
Pick a question to edit it, or write your own.
First answer free · no account
Project Information FAQ
Project Information
Participants
| Not available for this record. |
Status
Original status | awarded |
Taiyo status | Closed |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | The Metals Royalty Company is acquiring a 1% production royalty interest tied to the Mesabi Metallics iron ore project in Nashwauk, Minnesota. The project spans over 16,000 acres and is expected to produce DR-grade pellets used in electric arc furnace steelmaking, a cleaner alternative to traditional blast furnace steel production. The acquisition is part of a $132.5 million deal, including cash and company stock, with financing through a PIPE raise and a proposed credit facility. First production is targeted for the second half of 2026, with full ramp-up expected in 2027. |
Original sector | Mining |
Budget |
Location
Country | United States of America (USA) |
State | Minnesota |
City | Nashwauk |
Source
Source | AOL |
URL |
More Details
Record type | Project |
Sector | Metal, Steel |
Article published date | 2026-05-09 |
Research
Free account
View all details
You are reading the public part. A free account opens the rest:
- Every detail on this project
- News and media coverage
- Technical research
Free account · no card · lands you back on this project
More Metal projects in United States
- EPC of Turbine and Foundation Structure in the Southwest Sea Wind Power Demonstration Complex
- Engineering, Procurement, and Construction of Third Bosphorus Bridge
- Tampa Bay Seawater Desalination Plant
- Dover Air Force Base
- Addison Airport toll tunnel, Dallas, TX
- Golden Gate Bridge, San Francisco
- Project Neon, Las Vegas, Nevada, US
- Kew Gardens Interchange Upgrade, New York, US