Essar Steel Minnesota LLC (ESML), a part of the Essar Group, has emerged as a leading iron ore reserves owner in North American Basin. The company in a statement confirmed that its Minnesota Project contains 1.77 billion tonnes of reserves, with a grading of 31.78% total iron, along with inferred mineral reserves and resources estimated at 201 million metric tonnes. The taconite iron ore project, spread over 19,200 acres is located at Nashwauk, Minnesota, in the Mesabi Range.
The project has acquired all permits for the construction and production of 4.1 MT of iron ore pellets annually. Besides, applications have been filed for a second phase expansion to add additional 2.9 MT of iron ore pellets production annually, bringing the annual capacity to 7 MT. Work oon the first phase commenced in October, 2010.