Hertha Metals breaks ground on high-purity iron plant, 500,000 t/y steel mill to follow

Published: Oct 16, 2026 10:17 (GMT+8)
Hertha Metals broke ground on its Chalyx plant, which will make 10,000 tonnes per year of 99.95% high-purity iron from late 2027, with output starting early 2028. NdFeB magnets are about 70% high-purity iron and 94% of magnets come from China; Hertha targets roughly 30% of US magnet demand. Chalyx can use any iron ore grade. It has invested 100 million USD in a planned 500,000 tonne per year steel mill, to be built once Chalyx proves commercial, using Minnesota ore and Texas gas, cutting emissions up to 98% with hydrogen and costs 25% below blast furnace. CEO Laureen Meroueh credits the 50% Section 232 tariffs. US electrical steel imports fell 34.45% to 25,513 tonnes in 2025; total steel imports were 14.53 million tonnes in 2026 YTD; HRC averaged 1,359 USD/tonne, up 51.44% y-o-y.

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