The Iron Range's two largest mining companies Cleveland-Cliffs and US Steel have submitted formal requests to Minnesota for mineral leases, covering 66 parcels, each roughly 40 acres, formerly held by Mesabi Metallics, says The Star Tribune. Cleveland-Cliffs had filed a formal proposal for all of the Nashwauk leases in January 2023 & US Steel filed its formal proposal on 24 February.The Minnesota Department of Natural Resources had terminated Mesabi's leases for state-owned ore in 2022 and the Minnesota Supreme Court upheld the termination in January 2023, paving the way for the DNR to reallocate the leases near Nashwauk.The DNR canceled Mesabi's leases after the company missed a 2021 deadline for a $ 200M down payment to complete a half-built taconite plant. A predecessor company started the project in 2011, but it went bankrupt in 2016. Since then, the venture has been plagued by delays.Cleveland-Cliffs and US Steel have long histories on the Iron Range. Cliffs fully owns three of the Range's six taconite mines while US Steel owns two. Cliffs owns 85% of Hibbing Taconite and US Steel 15 %. Hibbing Taconite, which employs 750, is expected to run out of ore around 2025. If Cliffs gets the former Mesabi leases, Hibbing Taconite's life would be extended by 27 years. Keetac's lifespan isn't clear from public records, but it has about three times more mineral reserves than does Hibtac
The Iron Range's two largest mining companies Cleveland-Cliffs and US Steel have submitted formal requests to Minnesota for mineral leases, covering 66 parcels, each roughly 40 acres, formerly held by Mesabi Metallics, says The Star Tribune. Cleveland-Cliffs had filed a formal proposal for all of the Nashwauk leases in January 2023 & US Steel filed its formal proposal on 24 February.The Minnesota Department of Natural Resources had terminated Mesabi's leases for state-owned ore in 2022 and the Minnesota Supreme Court upheld the termination in January 2023, paving the way for the DNR to reallocate the leases near Nashwauk.The DNR canceled Mesabi's leases after the company missed a 2021 deadline for a $ 200M down payment to complete a half-built taconite plant. A predecessor company started the project in 2011, but it went bankrupt in 2016. Since then, the venture has been plagued by delays.Cleveland-Cliffs and US Steel have long histories on the Iron Range. Cliffs fully owns three of the Range's six taconite mines while US Steel owns two. Cliffs owns 85% of Hibbing Taconite and US Steel 15 %. Hibbing Taconite, which employs 750, is expected to run out of ore around 2025. If Cliffs gets the former Mesabi leases, Hibbing Taconite's life would be extended by 27 years. Keetac's lifespan isn't clear from public records, but it has about three times more mineral reserves than does Hibtac
