President Donald Trump will unveil a planned $15 billion steel mill in Iowa on Monday, a White House official said. The project, backed by Minnesota's Mesabi Metallics, would start with 7.5 million tons of annual capacity and could later expand toward about 10 million tons a year.
Trump is expected to announce the project at the White House alongside executives from Mesabi Metallics, a White House official said. The administration is highlighting the investment as it seeks to promote domestic manufacturing ahead of November's midterm elections.
Mesabi Metallics recently opened Minnesota's first new iron ore mine in 50 years. The proposed Iowa mill would start with an annual production capacity of 7.5 million tons, making it one of the largest steel plants in the United States.
Later additions could lift that capacity to about 10 million tons a year, the White House official said. The Wall Street Journal first reported the announcement.
Source: Investing.com
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