Trump Announces $15 Billion Mesabi Metallics Steel Plant in Iowa

President Donald Trump announced on Monday that Mesabi Metallics plans to build a $15 billion steel mill in Iowa, describing it as one of the largest steel plants in American history.

The announcement was made from the Oval Office on Monday, September 28, where Trump was joined by Iowa Governor Kim Reynolds and executives from the Minnesota-based company, according to The Wall Street Journal. The mill would be built in eastern Iowa along the Mississippi River, with steelmaking expected to begin in 2030.

According to the White House, the project would create up to 6,000 construction jobs and around 1,750 permanent jobs, and is projected to add $95 billion to the United States economy over the next decade. The mill would have an initial annual production capacity of 7.5 million tons, later rising to about 10 million tons, using iron ore from Mesabi Metallics’ newly opened Minnesota mine — the first new iron ore mine in the country in 50 years.

Trump said the steel mill and the mine were the results of American tariffs that have raised prices for foreign-made steel. “It’s really not that complicated,” he said.

The announcement comes just over a month before the midterm elections, with Iowa voters deciding competitive races for governor, U.S. Senate and Congress. The mill would sit in Lee County, in Iowa’s 1st Congressional District — one of the most economically depressed regions of the state, according to Governor Reynolds.

The project still faces hurdles. Mesabi Metallics is part of Indian conglomerate Essar Group, and the mill was first proposed by Essar about 20 years ago but went through years of delays and missed deadlines to repay state aid, according to the Journal.

Sources

• The White House — “Mined, Melted, and Poured in America”
• The Wall Street Journal — “Trump Unveils $15 Billion Iowa Steel Project”
• The Des Moines Register — “Iowa leaders call $15B steel plant ‘gamechanger'”