Posted at: 06/25/2013 10:24 AM
Updated at: 06/25/2013 10:28 AM
By: Renee Passal
Magnetation and AK Steel's combination project in Reynolds, Indiana is coming along. And to celebrate the first concrete pour, state and local leaders gathered for a ceremony at the site two weeks ago.
Video from Magnetation shows quite a bit of activity.
CEO of Magnetation, Larry Lehtinen, said that there are 30 people working for the project now, and there will be 115 when the pellet plant is running.
Pellets from Reynolds will be used to make steel at AK Steel's blast furnaces in Kentucky and Ohio. Officials from AK Steel said that would be in about a year from now.
This plant, which is an investment of $300 million dollars, is spurring the need for a new concentrate plant in Minnesota. Magnetation plans on breaking ground this year on their 4th facility on the Range, near the Canisteo Pit. 160 jobs will be created at that plant.
Magnetation takes old iron ore tailings and turns them into concentrate, which is used to make steel.