[ US Unveils $15 Billion Vertically Integrated Steel Project in Iowa ]

Published: Sep 29, 2026 11:01 (GMT+8)

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The US government unveiled a planned $15 billion vertically integrated steel mill project in Iowa on September 28, 2026, aimed at bolstering domestic industrial capacity. The massive facility will be operated by Mesabi Metallics and will utilize iron ore extracted from its Nashwauk mine in Minnesota. The first phase of the project is designed to produce 7.5 million tons of steel annually, with the plant eventually expected to reach a total capacity of 10 million tons, targeting initial production by 2030.

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