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White House confirms: Trump to announce $15B Mesabi Metallics steel plant in Iowa, the largest in U.S. history
Mesabi Metallics plans a roughly $15 billion steel plant in Iowa with first production in 2030, 10 million tons annual capacity at full build-out and 1,750 permanent jobs.
Why it matters
A White House official confirmed on September 28 that U.S. President Donald Trump will announce in the Oval Office on Monday that Minnesota-based Mesabi Metallics plans to invest about $15 billion to build a steel plant in Iowa. The White House says it will be the first mega steel plant built in the United States since the 1960s and the largest in U.S. history.
According to the White House official, the plant's first phase will produce about 7.5 million tons of steel annually, expanding to 10 million tons at full build-out — roughly one-tenth of total U.S. steel output last year. First steel production is expected in 2030. The project will use iron ore from the company's new Minnesota mine, making it fully integrated from mining to steelmaking inside the United States.
Full report
The project will create about 1,750 permanent jobs in Iowa, plus 5,000 to 6,000 construction jobs during the build. The companion Minnesota iron ore mine represents a $2.5 billion investment producing 7.5 million tons of ore a year and 350 jobs — Minnesota's first new iron ore mine in 50 years. The company promises "100% American steel: mined, melted and poured in Minnesota and Iowa."
Expected at the announcement: Mesabi Metallics chairman Rewant Ruia, CEO Joe Broking, Commerce Secretary Howard Lutnick, National Energy Dominance Council executive director Jarrod Agen and Export-Import Bank chairman John Jovanovic.
White House spokeswoman Taylor Rogers said in a statement: "President Trump is delivering on his promise to rebuild American industry, reshore manufacturing, and create new jobs. Today's announcement underscores the President's historic efforts to revitalize the U.S. steel industry — supporting local communities, strengthening supply chains, and protecting our national security."
The Wall Street Journal first reported the project's details, with Reuters, CNBC, Fox News and The Hill following. The announcement comes about 36 days before the November midterm elections, with Iowa Republicans defending all four House seats and the Senate seat being vacated by the retiring Joni Ernst.
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