President Donald Trump will announce on Monday a Minnesota company's plan to build a $15 billion steel mill in Iowa, a White House official said, a major investment that the administration is highlighting as it seeks to promote domestic manufacturing ahead of the November midterm elections.
Trump is expected to unveil the proposal at the White House with executives from Mesabi Metallics, which recently opened Minnesota's first new iron ore mine in 50 years, a White House official said.
The announcement was first reported by the Wall Street Journal.
The project will be fully vertically integrated, with Mesabi using iron ore from its Minnesota mine to produce steel in Iowa. The first phase will produce 7.5 million tons of steel annually, with the plant eventually expected to reach 10 million tons, which the White House described as the largest steel plant in US history.
The Minnesota mine represents a $2.5 billion investment and is expected to create about 350 jobs, while the Iowa steel plant is expected to create at least 1,750 permanent jobs, the official said. The first phase is also expected to support 5,000 to 6,000 construction jobs, the official said.
"President Trump is delivering on his promise to rebuild American industry, reshore manufacturing, and create new jobs," White House spokeswoman Taylor Rogers said.
