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Business

Trump unveils $15bn Mesabi steel mill in Iowa ahead of midterms

President Trump announced a $15bn Mesabi Metallics steel mill in eastern Iowa — 1,750 permanent jobs and up to 6,000 construction jobs, with steelmaking starting in 2030.

By James Calloway · · 1 min read

President Donald Trump has announced one of the largest steel plants in American history: a $15 billion Mesabi Metallics mill in Iowa, unveiled at the White House on Monday.

Trump made the announcement in the Oval Office alongside executives from Mesabi Metallics, which recently opened the first new iron ore mine in the United States in 50 years. The mill will produce 7.5 million tons of steel per year in its first phase, rising to about 10 million tons, using iron ore shipped down the Mississippi from the company’s Minnesota mine.

The project would create 1,750 permanent Iowa jobs and support up to 6,000 construction jobs, with an estimated $95 billion added to the US economy over the next decade. Steelmaking could begin in 2030, according to a White House official.

“The plant will produce some of the highest quality, most affordable steel anywhere in the world,” Trump said.

The company said the plant would be in eastern Iowa; Rep. Mariannette Miller-Meeks said it would sit in Lee County, within her 1st Congressional District. Mesabi, part of the Indian conglomerate Essar Group, first proposed the Minnesota project about 20 years ago — the mine filed for bankruptcy a decade ago before being revived, the Wall Street Journal reported.

The announcement comes weeks before the midterm elections, with competitive Iowa races for governor, the US Senate and the House on the ballot. The White House framed the project as a product of Trump’s steel tariffs, which Commerce Secretary Howard Lutnick credited for reviving domestic production.

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