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President Donald Trump will announce the construction of a new $15 billion steel plant in Iowa during an Oval Office event on Monday, according to a White House official. Mesabi Metallics, backed by the Essar Group, plans to build this mega-steel plant, the first in the U.S. since the 1960s, with initial production expected by 2030 and annual output of 10 million tons once completed. The company also invested $2.5 billion in an iron ore mine in Minnesota that will produce 7.5 million tons annually, creating jobs in both states.
Written locally by qwen2.5:14b on 2026-09-28,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
President Donald Trump announced plans on September 28th from the Oval Office to build a $15 billion steel plant in Iowa, which would be the largest of its kind ever constructed in the U.S. The project, backed by Mesabi Metallics—a company owned by India’s Essar Group—aims to produce up to 10 million tons of steel annually once fully operational and create around 2,000 jobs when it reaches full capacity. The plant will use iron ore from a new mine in Minnesota, which is expected to start production soon and generate about 7.5 million tons of iron per year, creating approximately 350 additional jobs in Minnesota. This initiative is part of Trump's efforts to boost manufacturing and employment ahead of the midterm elections, emphasizing reshoring and national security benefits.
Written for “Trump Iowa Steel Plant Announcement” on 2026-10-05,
grounded in this article and the 14 other(s) covering the same event.
Trump to announce new $15B steel plant: White House official
asserted
Trump → announce → official
The project will be built by Mesabi Metallics in Iowa.
asserted
project → build → Iowa
President Donald Trump will announce the construction of a massive new steel plant during an Oval Office event on Monday, a White House official said.
asserted
official → announce → Monday
The project, which will be built by Mesabi Metallics in Iowa, will command a $15 billion investment from the company and is the first mega-steel plant built in the United States since the 1960s, the official said.
asserted
official → build → 1960s
The first steel production is expected to be in 2030 and, once fully built out, will produce 10 million tons of steel annually, making it among the largest in the U.S.
asserted
it → expect → U.S.
The company also recently invested $2.5 billion in a new iron ore mine in Minnesota, which the official said will allow the project to be fully integrated in the U.S. from mining to production.
asserted
project → invest → production
The mine is expected to produce 7.5 million tons of iron ore annually and will create 350 new jobs in Minnesota.
asserted
mine → expect → Minnesota
Another 1,750 jobs are expected in Iowa, the official added.
asserted
official → expect → Iowa
"Today’s announcement underscores the President's historic efforts to revitalize the U.S. steel industry -- supporting local communities, strengthening supply chains, and protecting our national security," White House spokesperson Taylor Rogers said in a statement confirming the announcement.
asserted
Rogers → underscore → announcement
Executives from Mesabi Metallics are expected to attend the event on Monday, as well as Secretary of Commerce Howard Lutnick, Executive Director of the White House's National Energy Dominance Council Jarrod Agen and John Jovanovic, chairman of the U.S. Export-Import Bank.
asserted
Executives → expect → Bank
The Wall Street Journal first reported the details of the project.
asserted
Journal → report → project
The Wall Street Journal noted that Mesabi Metallics is backed by the Essar Group, an Indian multinational conglomerate, which first proposed the mine and mill project 20 years ago, and ultimately failed.
asserted
which → note → project
The mine project filed for bankruptcy a decade ago, the Wall Street Journal reported.
asserted
Journal → file → bankruptcy
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