Coleraine, MN (NNCNOW.com) --- Grand Rapids based iron ore recovery company, Magnetation is celebrating the construction of a fourth reclamation plant.
Old piles of tailings leftover from mining operations in the early 1900’s still have plenty of iron left in them. The mineral in the rock was abandoned because it was too costly to remove, but one company is going for what miners left behind.
“We’re going back after that iron, we’re recycling this waste material, producing an iron ore concentrate using our proprietary REV 3 mineral process and then we put back the waste material where it came from and we reclaim it” said company president, Matt Lehtinen.
The company is called Magnetation and they get their name from the process they use to extract the iron.
It’s big business and the company is growing fast. Construction on the newest reclamation plant is well under way.
"This is the culmination of many years of hard work for our whole team. We've got hundreds of construction workers on site building this project. This place is going to employ several hundred people directly to operate it and to make concentrate. It’s a super exciting project" said Lehtinen.
Plant four will be the largest of all their reclamation plants doubling the size and production of plant two, producing two-million pounds of iron ore each year. The new plant will be a 155-million dollar investment that will be up and running in January 2015.