MagIron has completed a concept and economic study with Primetals Technologies evaluating large-scale granulated pig iron production integrated with its existing facilities in Minnesota and Indiana.
The study assessed three production routes: MIDREX Flex direct reduction followed by electric smelting; MIDREX Flex direct reduction followed by electric arc furnace and ladle furnace processing; and conventional blast-furnace production. All three routes were found to provide technically credible pathways to produce around 2 mln tons of granulated pig iron annually.
MagIron plans to leverage its existing mining, processing, pelletizing and logistics infrastructure, with initial commissioning and first hot metal potentially achievable within two to three years after a final investment decision.
The company said the project could help reduce US reliance on imported merchant pig iron. The US currently imports essentially all of its merchant pig iron requirements, with annual consumption historically ranging from around 4-6 mln tons. MagIron is also developing the restart of an iron ore concentrator near Grand Rapids, Minnesota, and a pelletizing plant near Reynolds, Indiana.
The facilities have received more than USD 660 mln in previous investment and have previously operated at an annualized rate of around 2.2 mln tons of BF-grade concentrate.