Company Announcements
July 15, 2026
North American Iron announces funding for pig iron project
Written by Stephen Miller
North American Iron Inc. has announced it has secured additional financing in order to advance its project to convert iron ore tailings into merchant pig iron.
The financing, the amount of which was not disclosed, will provide capital for engineering, permitting, and project development, according to a company press release.
The process will rely on existing stockpiles of iron ore tailings, which have a low ferric oxide content located in Minnesota. They intend to process this material in some fashion, probably to isolate the Fe containing portion.
This material will be shipped via rail to a facility in Minot, N.D., for conversion into merchant pig iron for use in steel mills and foundries. The yearly production is forecasted to be as much as 2 million tons.
North American Iron’s parent company is Scranton Holding Co, and the financing is also affiliated with Calumet Reclamation Co.
