US-based iron ore company MagIron is advancing plans to establish large-scale domestic merchant pig iron production with an annual capacity of approximately 2 million mt, following the completion of a concept and economic study by UK-based plantmaker Primetals Technologies.
The study evaluated the integration of granulated pig iron production with MagIron's existing US facilities and assessed three alternative production routes: MIDREX Flex direct reduction followed by electric smelting, MIDREX Flex direct reduction followed by electric arc furnace and ladle furnace processing, and conventional blast furnace production.
Three production routes found technically viable
According to Primetals Technologies, all three routes provide technically credible pathways to produce approximately 2 million mt of granulated pig iron per year.
MagIron plans to leverage its existing mining, processing, pelletizing and logistics infrastructure in Minnesota and Indiana. The company estimates that initial commissioning and first hot metal production could be achieved within approximately two to three years following a final investment decision.
MagIron also intends to maintain the flexibility to produce and sell direct reduction-grade iron ore pellets alongside its plans for merchant pig iron, allowing it to respond to customer requirements and market conditions using the same resource base and existing processing and pelletizing infrastructure.
MagIron could meet up to half of US pig iron demand
The US currently imports essentially all of the merchant pig iron required by its steel industry, while annual consumption has historically ranged between approximately four million mt and six million mt.
Accordingly, the proposed MagIron project, at around two million mt per year, could meet approximately one-third to one-half of current US merchant pig iron requirements.
“The completion of the Primetals study represents an important milestone for MagIron and confirms that there are several technically credible and economically attractive routes through which we can establish large-scale domestic production of merchant pig iron,” MagIron executive chairman Julian Treger said.
Primetals Technologies stated that MagIron's existing industrial infrastructure and domestic raw material base provide a strong foundation for advancing the project to its next stage of development.
