Grand Rapids, Minnesota (NNCnow.com) "Magnetation", an iron ore pellet manufacturer, headquartered on the Iron Range, has chosen a site to build a new Iron ore pellet plant.
The company released a statement today announcing that they've decided to build in Reynolds, Indiana.
The company had been considering expanding to Superior.
Magnetation will ship iron ore concentrate from operations in Northern Minnesota to the new Indiana plant.
The company expects to invest up to 350-million dollars in the Indiana plant and hire up to 120 workers.
Magnetation plans to break ground on the Indiana facility in early 2013 and be fully operational by the end of 2014.