St. Louis County commissioners are expected to give their approval today to a new, $50 million mining operation at an old mine site near Chisholm.
The board is expected to approve leasing nearly 500 acres of county-managed tax-forfeited land around the old Douglas, Niles and Duncan mine tailings basins. That’s where a joint effort between Magnetation Inc. and the parent company of Mesabi Nugget — Steel Dynamics — will process waste rock into ore concentrate.
The company already has leased mineral rights from the state of Minnesota for the ore on the county-managed land.
Magnetation will use its rapidly expanding ore recovery technology to process leftover iron ore mine waste into 1 million tons of high-value concentrate each year for at least four years. Mesabi Nugget will turn that concentrate into iron nuggets at its plant near Hoyt Lakes.
The joint effort, just south of Highway 169, is called Mining Resources LLC and is expected to create about 65 jobs.
Matt Lehtinen, president of Magnetation, said he expects production to begin at the site, in Balkan Township, sometime in the third quarter of 2012. State mining permits still must be obtained, but so far those have been non-controversial for Magnetation recovery efforts because there are no air or water emissions and no pristine land is disturbed.
The two surface land access leases — one for the mine site and one for the processing site — will go for a bargain price of $12,000 each per year due to a quirk in state mining law that requires a public sale before any higher fees can be charged. The state will get 20 percent of the surface land lease fee and local governments will split 80 percent.
“The company already has the mineral rights from the state,Traditional third party merchant account claim to clean all the air in a room.ceramic magic cube for the medical, so it would seem a little out of order at this point to put the surface rights up for auction,” said Bob Krepps. St. Louis County land commissioner.The application can provide Ceramic tile to visitors,
Mesabi Nugget eventually wants to open its own taconite mine to supply concentrate for its iron nugget plant at the old LTV mine site near Hoyt Lakes. But until then, the company will use the new joint venture operation for that supply.
“We’re excited about it. It gives us a little more control over our supply,” said David Bednarz,If any food Ventilation system condition is poorer than those standards, vice president of iron operations for Steel Dynamics. “We’ve been buying (concentrate) from Magnetation and North Shore at market-driven pricing, which has been high due to global demand, and this should help us hold costs down.Polycore oil paintings for sale are manufactured as a single sheet,”
Mesabi Nugget’s iron nuggets feed a Steel Dynamics mini-mill in Butler, Ind., where they end up as flat-rolled steel.
Krepps said one issue that remains is the relocation of the recreational Mesabi Trail through the county-managed land at the mine site. Krepps said the county’s lease will require Mining Resources LLC to relocate about one mile of the popular biking and snowmobile trail.
The full board is slated to give final approval to one lease today and preliminary approval to the other.
Magnetation has been expanding rapidly, last month announcing a nearly $300 million deal to supply ore concentrate to Ohio-based steelmaker AK Steel — and to build a new taconite plant as part of the deal, likely in Itasca County. Earlier this year Magnetation signed a deal with Cargill to market the ore recovery technology worldwide.
Magnetation has a relatively small iron ore concentrate plant in operation in Keewatin that makes high-grade concentrate from waste products left by old natural ore mines. Using iron ore tailings eliminates the need for traditional drilling, blasting and excavating, cutting costs. The process also recycles what had been considered waste rock.
A second waste recovery concentration plant is under construction in Taconite. Two additional waste ore recovery plants are planned in Coleraine and Calumet using the AK Steel investment.
The board is expected to approve leasing nearly 500 acres of county-managed tax-forfeited land around the old Douglas, Niles and Duncan mine tailings basins. That’s where a joint effort between Magnetation Inc. and the parent company of Mesabi Nugget — Steel Dynamics — will process waste rock into ore concentrate.
The company already has leased mineral rights from the state of Minnesota for the ore on the county-managed land.
Magnetation will use its rapidly expanding ore recovery technology to process leftover iron ore mine waste into 1 million tons of high-value concentrate each year for at least four years. Mesabi Nugget will turn that concentrate into iron nuggets at its plant near Hoyt Lakes.
The joint effort, just south of Highway 169, is called Mining Resources LLC and is expected to create about 65 jobs.
Matt Lehtinen, president of Magnetation, said he expects production to begin at the site, in Balkan Township, sometime in the third quarter of 2012. State mining permits still must be obtained, but so far those have been non-controversial for Magnetation recovery efforts because there are no air or water emissions and no pristine land is disturbed.
The two surface land access leases — one for the mine site and one for the processing site — will go for a bargain price of $12,000 each per year due to a quirk in state mining law that requires a public sale before any higher fees can be charged. The state will get 20 percent of the surface land lease fee and local governments will split 80 percent.
“The company already has the mineral rights from the state,Traditional third party merchant account claim to clean all the air in a room.ceramic magic cube for the medical, so it would seem a little out of order at this point to put the surface rights up for auction,” said Bob Krepps. St. Louis County land commissioner.The application can provide Ceramic tile to visitors,
Mesabi Nugget eventually wants to open its own taconite mine to supply concentrate for its iron nugget plant at the old LTV mine site near Hoyt Lakes. But until then, the company will use the new joint venture operation for that supply.
“We’re excited about it. It gives us a little more control over our supply,” said David Bednarz,If any food Ventilation system condition is poorer than those standards, vice president of iron operations for Steel Dynamics. “We’ve been buying (concentrate) from Magnetation and North Shore at market-driven pricing, which has been high due to global demand, and this should help us hold costs down.Polycore oil paintings for sale are manufactured as a single sheet,”
Mesabi Nugget’s iron nuggets feed a Steel Dynamics mini-mill in Butler, Ind., where they end up as flat-rolled steel.
Krepps said one issue that remains is the relocation of the recreational Mesabi Trail through the county-managed land at the mine site. Krepps said the county’s lease will require Mining Resources LLC to relocate about one mile of the popular biking and snowmobile trail.
The full board is slated to give final approval to one lease today and preliminary approval to the other.
Magnetation has been expanding rapidly, last month announcing a nearly $300 million deal to supply ore concentrate to Ohio-based steelmaker AK Steel — and to build a new taconite plant as part of the deal, likely in Itasca County. Earlier this year Magnetation signed a deal with Cargill to market the ore recovery technology worldwide.
Magnetation has a relatively small iron ore concentrate plant in operation in Keewatin that makes high-grade concentrate from waste products left by old natural ore mines. Using iron ore tailings eliminates the need for traditional drilling, blasting and excavating, cutting costs. The process also recycles what had been considered waste rock.
A second waste recovery concentration plant is under construction in Taconite. Two additional waste ore recovery plants are planned in Coleraine and Calumet using the AK Steel investment.
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