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Bids Accepted on Former Magnetation Plants

A bankruptcy trustee has accepted bids on several of the former Magnetation and ERP Iron Ore facilities on the Iron Range. A bankruptcy trustee has accepted bids on several of the former Magnetation and ERP Iron Ore facilities on the Iron Range. |  Photo: WDIO-TV

Updated: June 12, 2019 08:45 AM

A bankruptcy trustee has accepted bids on several of the former Magnetation and ERP Iron Ore facilities on the Iron Range.

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According to court documents, trustee (Nauni Manty) approved a $1.95 million bid by Prairie River Minerals to purchase Plant 1 in Keewatin and the Jessie Load-Out facility near Grand Rapids.

The filing said the trustee also approved a $1.7 million bid by MJM Minerals for Plant 2, which is near Bovey.

ERP filed for bankruptcy last year after trying to bring back the former Magnetation site back to life. 

The documents also said the other interested parties will work on Plant 4 in order to submit an offer with the intent of having another motion for sale filed by the 28th of June.

Copyright 2019 WDIO-TV LLC, a Hubbard Broadcasting Company. All rights reserved

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