Key facts
- President Donald Trump will announce a $15 billion steel mill project in Iowa on Monday.
- The project is proposed by Mesabi Metallics, a Minnesota company.
- The proposed mill would initially have an annual production capacity of 7.5 million tons.
- Later additions could lift capacity to about 10 million tons a year.
President Donald Trump is scheduled to announce on Monday a plan by Mesabi Metallics, a Minnesota-based company, to construct a $15 billion steel mill in Iowa. This significant investment is being promoted by the administration as part of its efforts to bolster domestic manufacturing ahead of the November midterm elections. Mesabi Metallics recently opened Minnesota's first new iron ore mine in 50 years. The proposed mill is expected to have an initial annual production capacity of 7.5 million tons, positioning it as one of the largest steel plants in the United States. Future expansions could potentially increase its capacity to approximately 10 million tons per year. The announcement was initially reported by The Wall Street Journal.