Steel Products Prices North America
New Taconite Plant Slated for Minnesota
Written by Sandy Williams
April 13, 2020
While other iron ore mining operations are temporarily shutting down due to the impact of the coronavirus on iron ore demand, Prairie River Minerals plans to start construction this month on a multimillion dollar ore processing plant in Minnesota.
Prairie River bought the assets of bankrupt Magnetation in Coleraine and Keewatin for $1.9 million in 2019. PRM plans to process leftover iron ore waste tailings at its new demonstration plant at the Jessie Loadout facility. Construction is expected to be completed during fall of 2020.
The new company will be led by CEO Larry Sutherland, who recently retired as general manager of Minnesota Ore Operations at U.S. Steel. “I am excited to join the PRM team and help develop this innovative business utilizing ore stockpiled from the early days of MN iron mining,” said Sutherland. “We’ll bring good paying union jobs to this region, be environmentally friendly, and benefit our local communities and the State of Minnesota.”
Technical director will be Johann Grobler, the developer of the Ultra-High Dense Medium Separation technology.
Magnetation entered bankruptcy in May 2015 and was sold to ERP Iron Ore, which failed to develop the property as planned. ERP, led by Tom Clarke, filed for bankruptcy in 2018.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products Prices North America
BREAKING NEWS: Cliffs raises prices, seeks $950/ton for July spot HR
Cleveland-Cliffs plans to increase prices for hot-rolled (HR) coil to $950 per short ton (st) with the opening of its July spot order book. The Cleveland-based steelmaker said the price hike was effective immediately in a letter to customers dated Monday.
HRC vs. prime scrap spread widens in June
The price spread between HRC and prime scrap widened in June.
SMU price ranges: Steel prices rise in response to tariffs
Steel prices climbed for a second straight week across all five sheet and plate products tracked by SMU.
Nucor lifts list price for spot HRC by $20/ton
The $20/short ton increase applies to all of the steelmaker’s sheet mills, including West Coast joint-venture subsidiary CSI.
Nucor pauses month-long slide in weekly HR price
Nucor halted a four-week decline in its spot price for hot-rolled coil this week, maintaining its weekly consumer spot price (CSP) at $870/st.