Steel Mills

Final Funding Secured for Big River Steel
Written by Sandy Williams
July 1, 2014
Final financing has been approved for Big River Steel in Mississippi County, Arkansas. Construction is expected to begin in July with a formal groundbreaking ceremony in September according to a spokesperson for the Arkansas Economic Development Commission (AEDC).
“It’s truly been a team effort between our investors, local and state leadership, our management team, and many others to get to this point,” said Big River Steel CEO John Correnti. “I know firsthand Northeast Arkansas has everything we need to operate a world-class mill. Now it’s time to get to work.”
The economic impact Big River Steel will have on the State of Arkansas is tremendous,” said Grant Tennille, executive director of the Arkansas Economic Development Commission. “In addition to the benefits of Big River alone, we fully expect a significant number of suppliers to locate operations in the region. We appreciate the Arkansas Development Finance Authority and Arkansas Teacher Retirement System working hard to make this project possible.”
AEDC plans to launch a marketing campaign later this year specifically targeting steel suppliers, said an AEDC spokesperson.
The $1.3 billion steel mill is expected to take two years to complete and employ more than 500 people. Steel production will be geared toward the automotive, oil and gas and electrical energy industries.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

USS swings to loss in first quarter on N. American flat-rolled segment woes
U.S. Steel CEO praised the company’s resilience, “despite the seasonally low results driven by annual mining logistics constraints in our North American Flat-Rolled segment and lagging spot prices.”

Nucor gives updates on new capacity coming online
Nucor said several of its capital projects will start operations within the next year and provided an update on them.

Algoma swings to loss on ‘market challenges’ and ‘tariff uncertainties’
Canada’s Algoma Steel swung to a loss in the first quarter amid "market challenges," and the company now expects first steel production from its first EAF in the second quarter.

Ternium raises budget for Mexico project
The steelmaker now expects the new steel slab mill in Pesquería will begin operations by Q4’26.

SSAB announces $74M expansion in Alabama
The project will expand heat treat capacity at its Axis, Alabama plant