Nashwauk, MN (United States), April 6 (IANS) Mesabi Metallics Company LLC (Mesabi Metallics), backed by Essar Group, on Monday announced that it has secured $150 million of financing from Macquarie Group, supporting the Q3 2026 startup of its world-scale Direct Reduction (DR) grade iron ore mine and pellet plant in Nashwauk, Minnesota.The latest financing builds on recent capital momentum for the structurally important American iron ore project.The financing follows Mesabi’s recently announced…
Latest Essar Group News & Updates
Nashwauk, MN (United States), March 31 (IANS) Mesabi Metallics Company LLC (Mesabi Metallics), backed by the Essar Group, on Tuesday announced that it has entered into a new 520 million dollar senior secured credit facility with Valor Mining Credit Partners II, L.P. (VMP II), a dedicated mining and critical minerals credit fund managed by Breakwall Capital LP (Breakwall) in partnership with Vitol, as it advances toward commercial operations later this year.Located on more than 16,000 acres in no…
New Delhi, Feb 25 (IANS) Steel industry veteran Jatinder Mehra on Wednesday passed away — marking the end of an era for India’s metals and mining sector.With a career spanning more than six decades, Mehra was widely respected for his technical knowledge, sharp strategic thinking and the ability to turn ambitious ideas into successful large-scale projects.Mehra served as Vice Chairman of the Metals and Mining Division at Essar Group, where he played a crucial role in guiding the group’s stee…
New Delhi, Feb 1 (IANS) The Union Budget 2026–27 presents a strong and credible roadmap to strengthen India’s competitiveness through fiscal discipline, structural reforms and targeted steps to boost private investment, industry said on Sunday.CII President Rajiv Memani said the Budget reinforces confidence in India’s growth story at a time when global economic conditions remain uncertain and investors are increasingly looking for policy clarity and long-term stability.“The Budget’s fo…