Steel Products Prices North America
New Taconite Plant Slated for Minnesota
Written by Sandy Williams
April 13, 2020
While other iron ore mining operations are temporarily shutting down due to the impact of the coronavirus on iron ore demand, Prairie River Minerals plans to start construction this month on a multimillion dollar ore processing plant in Minnesota.
Prairie River bought the assets of bankrupt Magnetation in Coleraine and Keewatin for $1.9 million in 2019. PRM plans to process leftover iron ore waste tailings at its new demonstration plant at the Jessie Loadout facility. Construction is expected to be completed during fall of 2020.
The new company will be led by CEO Larry Sutherland, who recently retired as general manager of Minnesota Ore Operations at U.S. Steel. “I am excited to join the PRM team and help develop this innovative business utilizing ore stockpiled from the early days of MN iron mining,” said Sutherland. “We’ll bring good paying union jobs to this region, be environmentally friendly, and benefit our local communities and the State of Minnesota.”
Technical director will be Johann Grobler, the developer of the Ultra-High Dense Medium Separation technology.
Magnetation entered bankruptcy in May 2015 and was sold to ERP Iron Ore, which failed to develop the property as planned. ERP, led by Tom Clarke, filed for bankruptcy in 2018.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products Prices North America
Nucor slows HRC price climb with $5/ton increase
After eight weeks of double-digit price increases on hot-rolled (HR) coil, Nucor slowed the price rise this week with an increase of $5 per short ton.
Domestic CRC prices surge ahead of imports
The price spread between stateside-produced CR and imports reached its widest margin in over a year.
Evraz raises plate prices $160/ton
Evraz North America (NA) has followed Nucor and SSAB with a plate price increase of its own: up $160 per short ton (st). The increase was effective immediately for all new orders of carbon, high-strength low-alloy, and normalized and quenched-and-tempered plate products, as well as for hot-rolled coil, the steelmaker said in a letter to […]
Nucor lifts HR coil to $820/ton
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week.
Nucor pushes HR spot price to $790/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $790 per short ton (st) on Monday, Feb. 10 – a $15/st bump vs. last week. The Charlotte, N.C.-based company has raised its weekly CSP by $40/st over the past three weeks after maintaining tags at $750/st since Nov. 12, according to SMU’s […]