Mesabi Metallics Secures $150 Million From Macquarie Group To Advance Minnesota DR-Grade Iron Ore Project
Published on: April 6, 2026, 12:09 p.m. | Source: Free Press Journal
Mesabi Metallics Company LLC, backed by Essar Group, has secured 150 million dollar in financing from Macquarie Group to support the Q3 2026 startup of its world-scale Direct Reduction (DR) grade iron ore mine and pellet plant in Nashwauk, Minnesota. This follows a recent 520 million dollars senior secured credit facility with Breakwall Capital and US EXIM Bank support.
