Mesabi Metallics plans a $15 billion steel plant in Iowa, according to a White House official cited by ABC News on September 28, 2026. The official said the company targets first steel production in 2030 and annual output of 10 million tons when the plant is fully built out. The same official projected 1,750 jobs in Iowa.
What it means
The Iowa plant would connect steel production with Mesabi Metallics’ $2.5 billion iron ore mine investment in Minnesota. The White House official said that combination would integrate mining and steel production within the United States.
The 2030 production date and full-buildout capacity are projections for the planned facility, rather than current output.
Key facts
- Developer: Mesabi Metallics.
- Location: Iowa.
- Planned steel plant investment: $15 billion.
- First production target: 2030.
- Annual output at full buildout: 10 million tons.
- Projected Iowa employment: 1,750 jobs.
Source: ABC News, reporting statements from a White House official. Investment, capacity, timing and employment figures are attributed to that official.