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President Trump Announces the Largest Steel Plant In US History

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President Donald Trump announced on September 28, 2026, that the largest steel plant in American history will be built in Lee County, Iowa, by the foreign-owned steelmaker Mesabi

The mega-steel facility will cost about $15 billion, with a connected $2.5 billion iron ore mine and pellet plant project in Nashwauk, Minnesota.

Production is targeted to begin in 2030.

It is expected to produce around 10 million tons of steel annually when fully online.

The project is intended to create 5,000 to 6,000 construction jobs and approximately 1,750 permanent jobs in Iowa.

Unlike smaller modern electric arc furnace facilities, this will be a large-scale integrated steel plant utilizing advanced steelmaking technology and raw materials mined in Minnesota.

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