Mesabi Metallics announces land purchase
Mesabi Metallics announced the company has purchased 3,200 acres of land from Butlertac Holdings, LLC.
According to the company, the land interests include a combination of undivided and whole-fee interests as well as mineral and surface leases. All of those are within the Biwabik Iron Formation in the vicinity of the former Butler mine corridor in Itasca County.
The statement went on to say that the land purchase further strengthens Mesabi Metallic’s presence in the Iron Range and reaffirms its commitment to completing its 7-million tons per year taconite mining and pelletization project in Nashwauk.
Larry Sutherland, President & COO of Mesabi Metallics said, "It brings us one step closer to completing and running a facility that will provide more than 350 well-paying operations jobs plus 800 spinoff jobs."
Mesabi filed a lawsuit against the DNR after the DNR terminated the state mineral leases. This stemmed from what the DNR said are missed requirements laid out in a lease agreement.
Cleveland-Cliffs also owns land in Nashwauk as well. In a statement, they said, "Today’s announcement does not impact or affect in any manner the full control Cleveland-Cliffs has over approximately 3,800 acres of land which we own outright or for which we have lease rights through 2068 in Nashwauk."