Magnetation is the company that takes old iron ore tailings and turns them into concentrate. That concentrate is used to make steel. They have one plant running in Keewatin, and are building two more. Last year, they announced they were partnering with AK Steel to build even more facilities, including a pellet plant.

Now, the company said they're considering four sites for that pellet plant, including Douglas County, Wisconsin, and Itasca County. Indiana and Illinois are also potentials.

Magnetation President Mr Matt Lehtinen said it would be similar in size to the taconite plant at Minorca Mine in Virginia. Concentrate from Magnetation's Iron Range plants would be used to make the pellets.

150 full time people would work there and it would take about 700 people to build it. All in all, it would be an investment of USD 300 million dollars.

The company hopes to narrow the list to two finalists within the next two months. From there, they will eventually choose one. This would be a manufacturing plant only, not a mine.

(Sourced from www.wdio.com)