Essar Steel Minnesota LLC, a subsidiary of India's Essar Group, announced Wednesday that it received positive results from its National Instrument 43-101 Mineral Resources and Mineral Reserves Report on its Minnesota iron ore project. The report indicated that resources for the project are estimated to be 1.77 billion metric tons (mt).
Essar Steel Minnesota President and CEO Madhu Vuppuluri, said: "The measured, indicated and inferred resources of nearly 2 billion metric tons at Essar Steel Minnesota's iron ore project exceeded our expectations...We believe that our project contains sufficient reserves and resources not only to increase the planned production of iron ore pellets from 4.1 million mt to 7 million mt annually, but also will enable us to evaluate options to further utilize our increased mineral resources."