Mesabi Metallics Plans $15 Billion Steel Mill in Iowa, President Trump to Announce
President Trump is set to announce that Minnesota-based Mesabi Metallics plans to build a $15 billion steel mill in Iowa.
Baltimore, MD, September 28, 2026 —
President Trump is expected to announce a significant industrial development project slated for Iowa. The announcement will detail plans by Minnesota-based company Mesabi Metallics to construct a new steel mill in the state.
The proposed facility represents a substantial investment, with Mesabi Metallics planning to spend an estimated $15 billion on its construction. The specific location within Iowa for this large-scale project was not detailed in the summary information available.
Mesabi Metallics, a company based in Minnesota, is the entity behind the proposed development. The planned steel mill is anticipated to be a major undertaking, potentially impacting the region’s economy and industrial landscape. Further details regarding the project’s timeline, scope, and potential employment opportunities have not been provided.
The involvement of President Trump in making the announcement suggests a focus on economic development initiatives and manufacturing growth. The administration has previously emphasized efforts to revitalize American industry and bring manufacturing jobs back to the United States.
As of the available information, the exact timeline for the announcement or the commencement of the project’s construction phase is not specified. Details regarding regulatory approvals, environmental impact studies, or financing structures are also pending.
Story summarized from the original created by Mallory Wilson on thehill.com, see more information here.
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