Minnesota Steel changes plant plans
Minnesotas Mesabi Iron Ranges first
steelmaking plant will produce steel slabs instead of hot rolled coils.
Plant planners decided to make the switch to slabs because they ultimately cost less to produce than coils. Moreover, producing slabs will allow Minnesota Steel to meet a niche market currently catered to by foreign
slab makers.
If all goes well, the new mill will begin producing slabs in 2009. The slabs would be shipped to Duluth, Minnesota, and then on to Midwest manufacturers.
The company also says that a nearby 1.4 billion ton
iron ore reserve will provide 100 years worth of materials while significantly reducing raw materials costs.