Coleraine, MN (NNCNOW.com) - Iron ore concentrate producer Magnetation is moving ahead with its new pellet plant in Reynolds, Indiana, raising the first steel at the site last month.
There are currently 300 employees at Magnetation, but company officials say that number will get bigger.
"We expect to ramp up our hiring for Plant Four, here on the Iron Range, next spring and summer," said Magnetation President Matt Lehtinen, "We intend to employ 160 people, direct employment, not counting spin off jobs and contractors."
Lehtinen says they need to open Plant Four, north of Coleraine, because the new plant near Reynolds, Indiana will need the pellets from Pant Four.
"That pellet plant is going to be hungry for iron ore," said Lehtinen.
Lehtinen says it's because of their pellet plant in Indiana that they were able to build a $30 million extension to their plant near Coleraine.
"It's a supplementary building to our initial building here at Plant Two, where we're able to produce a higher volume of iron ore," said Lehtinen, "We also grind the iron ore finer which helps to increase the quality, which is necessary for our plant in Indiana."
With construction of the $350 million pellet plant in full swing, the company prepares for the more than 200 new jobs that will come with it.
Magnetation hopes to break ground on Plant Four next month and start up its pellet plant in Indiana by the end of 2014.
Written for the web by Jennifer Austin.