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…
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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…