Company Announcements
August 4, 2026
MagIron presses forward with pig iron production plans
Written by Laura Miller
MagIron LLC has taken a major step forward in its quest to establish itself as the first large-scale US merchant pig iron producer.
The Gilbert, Minn.-based company completed a concept and economic study. It evaluated the development of large-scale granulated pig iron production, which would be integrated with its existing mining, processing, and pelletizing facilities.
Conducted by Primetals Technologies, the study evaluated three alternative production routes. They included 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.
“The study confirms that each route provides a technically credible pathway to the production of approximately two million tonnes per annum of granulated pig iron and supports MagIron’s strategy to establish itself as a key supplier of high-quality iron units which will be critical for the future success and decarbonization of the U.S. steel industry,” MagIron said in a statement sent to SMU.
Additionally, it estimates capital expenditures of $1.6 billion to $2.3 billion for the principal ironmaking and granulation facilities.
Julian Treger, executive chairman of MagIron, said the completion of the study marks an important milestone, confirming that “there are several technically credible and economically attractive routes through which we can establish large-scale domestic production of merchant pig iron.”
“While we intend to advance our pig iron strategy, we will retain the flexibility to supply DR-grade pellets where compelling commercial and economic opportunities arise,” Treger added.
MagIron points out that the US currently imports nearly all of its merchant pig iron required by the steel industry, with annual consumption estimated at 4 million to 6 million metric tons. With an initial production level of 2 million metric tons per year, the company believes it could supply one-third to one-half of US consumption requirements.
The next steps are for MagIron to select the preferred technology route, perform site selection, complete engineering and permitting, secure commercial arrangements, finalize financing, and make the final investment decision.
Following the final investment decision, MagIron expects to commission the facility and make the first hot metal within two to three years.
“Establishing domestic merchant pig iron production would reduce exposure to geopolitical events, trade restrictions, sanctions, shipping constraints and disruption to international supply chains,” MagIron stated. “It would also strengthen the resilience and long-term competitiveness of the U.S. steel industry and support greater U.S. self-reliance in a material critical to economic and national security.”
