WSJ highlights Minnesota's Magnetation

Author:
Publish date:

The Wall Street Journal profiles Minnesota's Magnetation, and the company's method of using magnet technology to efficiently pull out remnants of iron ore from rock previously deemed waste. The process allows the company to create iron pellets that can be used in making steel.

"It's a way of getting real value out of what considered waste in the last century," CEO Larry Lehtinen tells the Journal.

The newspaper notes that the price of iron has soared in the last decade, in large part thanks to growth in China and demand for steel there.

Next Up

Related

Magnetation: Minnesota won't get taconite pellet plant

An iron mining company confirms Minnesota is out of contention for a major taconite pellet operation. Magnetation had been considering Itasca County but is now focused on sites in Indiana and Wisconsin. Earlier this year Magnetation officials said Minnesota’s pollution regulations are too strict to make the plant profitable.

Iron Range leaders angry as Magnetation scouts sites outside Minnesota

The company says Minnesota's strict pollution rules are forcing it to look beyond the state for a possible site for a new iron ore plant. State officials tell the Duluth News Tribune they're upset Magnetation executives would consider such a thing after the state gave them $1 million in taxpayer money.