Trump announces $15bn steel mill project in Iowa before US midterms

Weeks before the midterm elections, President Trump announced that Mesabi Metallics, a Minnesota-based steel manufacturer, plans to build a $15 billion steel mill in Iowa. The project, expected to begin production in 2030, aims to revive the domestic steel industry and create over 1,700 jobs, with an initial capacity of 7.5 million tonnes per year. The first phase of construction is anticipated to generate 5,000–6,000 jobs. The mill will utilize iron ore from Minnesota's Mesabi Iron Range, where Mesabi Metallics recently opened a new mine. The White House stated the announcement demonstrates President Trump's commitment to rebuilding American industry and creating jobs.

Donald Trump announced plans for a $15 billion steel plant in eastern Iowa, which he described as the largest in U.S. history. The project, undertaken by Indian-owned company Mesabi Metallics, is slated to begin production in 2030. The White House stated the plant will utilize advanced technology to produce high-quality, affordable steel and is expected to create thousands of jobs. The Export-Import Bank will provide up to $10 billion in financing for the expansion. Trump credited his tariffs for attracting this investment, while acknowledging that some materials for the plant may need to be imported. The announcement comes as Republicans seek to bolster their midterm election message in Iowa.