Essar's first US mine and mill attempt (2008-2019)
Essar broke ground on an iron ore mine and steel mill near Nashwauk, Minnesota, in 2008. After investing nearly $2 billion, the project stalled and Essar filed for bankruptcy in 2016 with the project less than half complete.
Mesabi Metallics took over the project at bankruptcy auction in 2018. Minnesota's Department of Natural Resources moved to bar Essar from doing business in the state in 2019, citing missed deadlines and unpaid debts.
The episode left Essar with a barred status in Minnesota and unresolved litigation with Cleveland-Cliffs over mineral rights.
This is the same company behind the Iowa proposal. Its Minnesota record shows what can happen when an Essar US project fails to deliver.
