Trump made the announcement from the Oval Office, flanked by Commerce Secretary Howard Lutnick, Mesabi Metallics CEO Joe Broking, and other business leaders. "This steel will be mined, melted and made right here in the USA, which is something very unusual," Trump said.
A White House official said Mesabi Metallics aims to start production by 2030. The plant is expected to churn out 10 million tons of steel a year and create as many as 1,750 permanent jobs in Iowa. The facility will also be capable of supporting the defense sector, according to the official.
That kind of employment number could reshape local economies in Iowa communities built around agriculture and smaller manufacturing. The defense sector tie-in signals government interest in domestic supply chains for military use, beyond commercial steel production.
Five years stand between Monday's announcement and the first ton of steel rolling off the line.