Mesabi Metallics Secures $150 Million from Macquarie Group [Yahoo! Finance]
MACQUARIE GROUP LTD S/ADR (MQBKY)
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Source: Yahoo! Finance
April 6, 2026 /PRNewswire/ -- Mesabi Metallics Company LLC (Mesabi Metallics), backed by Essar Group, today announced that it has secured $150 million of financing from Macquarie Group, supporting the Q3 2026 startup of its world-scale Direct Reduction (DR) grade iron ore mine and pellet plant in Nashwauk, Minnesota. Mesabi Metallics concentrator building The financing follows Mesabi's recently announced $520 million senior secured credit facility with Breakwall Capital, further reinforcing the strong momentum behind the project. Mesabi has also recently received support from the U.S. Export-Import Bank (EXIM), reflecting the project's growing strategic importance to U.S. manufacturing, infrastructure, automotive, shipbuilding and defense. Mesabi Metallics is building a strategically important new American source of DR-grade iron ore at a time when the United States is working to strengthen industrial supply chains and reduce reliance on imported raw materials. Located on mo
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