Mesabi Metallics to Open Minnesota's First New Iron Ore Mine in 50 Years

Mesabi Metallics' iron ore mine in Nashwauk, Minnesota, is set to open this summer, marking the first new iron ore mine in the state in 50 years. The $2.4 billion project will create nearly 350 full-time jobs and contribute to the local economy, as northeastern Minnesota produces 80% of the nation's iron ore. Despite hopes for expanded mining operations under the Trump administration, concerns persist regarding environmental opposition and legislative gridlock that may hinder further development of critical minerals.

Published Mar 30, 2026

The Mesabi Metallics iron ore mine in Nashwauk, Minnesota, will open this summer, becoming the first new iron ore mine in the state in 50 years. This $2.4 billion investment is expected to create nearly 350 full-time jobs.

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Northeastern Minnesota supplies 80% of the nation's iron ore, crucial for steel production. While there are ambitions to diversify mining into copper, nickel, cobalt, and lithium, challenges remain. The Trump administration's efforts to streamline permitting and boost domestic steel production face obstacles, including environmental concerns and congressional gridlock, affecting the mining economy's potential resurgence.