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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (66879)	4/26/2011 3:47:44 PM
From: Snowshoe	Respond to of 217798

Minnesota's iron ore industry bounces back less than 2 years after bottoming out startribune.com New products and new markets are also changing the nature of the industry in Minnesota, which has long been based on refining lower-grade raw taconite into higher-grade iron ore pellets suitable for blast furnaces. Mesabi Nugget is making high-purity iron nuggets that can be used in electric mini-mills, a new market for Minnesota ore. And ore concentrate pulled from what used to be waste by upstart producer Magnetation in Nashwauk is heading to Mexico. And China is hungry for taconite pellets. Cliffs Natural Resources Inc. has said it will ship 1 million tons of Michigan and Minnesota taconite pellets there this year. Overseas steel mills are now willing to pay enough for Minnesota ore that it more than covers the shipping costs. Pellets from Minnesota now compete with raw ore from Brazil and Australia. Magnetation is shipping its concentrate to a Mexican steel mill by train, displacing raw ore from Brazil.