IT'S OFFICIAL: President Trump announces the largest steel plant in American HISTORY, which will be built in IOWA

[Crepitus]

There are so many things with this that are not mentioned.

Messabi Metallics is an Indian owned company.
They currently have over three quarters of billion dollars in federal backed loans thanks to Trump.
Their parent company declared bankruptcy in 2016 to try to retain mining leases.
They have have a history of failing to live up to their claims which resulted in losing mining leases.
They were scheduled to start producing iron pellets this month but that has now been pushed back as they failed to meet that deadline.

https://www.startribune.com/mesabi-metallics-essar-appeals-court-dismisses-lawsuit-nashwauk-project/600352368

Mesabi Metallics eyes $5 billion expansion as production, federal assistance ramp up

The mining company celebrated a $770 million federal loan and the production of its first concentrate at a blast event Sept. 17, 2026. Two days earlier, it announced the "next phase of investment" at an Itasca County Board meeting.

www.kaxe.org

Oh shit. This is a terrible deal. Why are we loaning 3/4 of a billion to a company that has already failed repeatedly?

 

[Hawkeye10]

Tesla Buffalo....built using mostly government money.....never came close to production/employment promises.....

 

[Crepitus]

$.5billion government money to set up a General Dynamic 155mm artillery shell facility.....all of it wasted.....never made a single usable shell before closed.

The feds should be suing the shit outta them.

 

[Hawkeye10]

Oh shit. This is a terrible deal. Why are we loaning 3/4 of a billion to a company that has already failed repeatedly?

With zero experience.......that is the big thing for me.

 

[Hawkeye10]

The feds should be suing the shit outta them.

Ya......they are supposed to know what they are doing......negligence was the big problem as I understand it.

But we are letting it go as I understand it, another lesson to the defense contractors that there is no penalty for failure, even in negligence.

 

[T. A. Gardner]

Oh shit. This is a terrible deal. Why are we loaning 3/4 of a billion to a company that has already failed repeatedly?

Biden and Obama lent billions to companies to make green energy and they failed by the score but you didn't object to that.

The Ivanpah 'Bird Cooker' solar plant received $1.6 billion from the Obama administration and it's going bankrupt and shutting down because it's uneconomical and unprofitable to run.

https://www.instituteforenergyresearch.org/big-green/california-shuts-down-its-solar-thermal-plant-13-years-early/

These companies all got federal subsidies of one sort or another.

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Trump touts a single steel mill, and you go apeshit nuts over it.

 

[Hawkeye10]

What “reasons,” exactly?

Iowa already has a steel mill. The Muscatine-area mill opened in 1997 and is still producing steel today.

They also had Sivyer Steel Castings until a 2023 fire destroyed the operation and management ultimately chose not to rebuild it.

And apparently Mesabi’s engineers missed your memo, because they specifically chose eastern Iowa for access to the Mississippi, Minnesota ore and scrap for electric-arc furnaces.

So maybe actually name these mysterious, immutable “reasons” instead of vaguely announcing that everyone involved in a $15 billion project somehow forgot steel mills aren't allowed to work in Iowa.

Trained workers and inability to affordably ship ore.....even refining the ore down to pellets takes a lot of shipping, and the river is not usable all the way up to where it is mined and is not intended to be used here.....it is intended to come in by rail.

 

[Hawkeye10]

Does Lee County currently have the electricity to run a mill of the intended size?

If not how are they intending to get it?

 

[Hawkeye10]

I have been told that the #1 reason America has lost half of its aluminum production over 20 years is the electricity problem.

I spect that electric steel mills of size (not the small scrap melters) have the same problem.

 

[Hawkeye10]

Oh shit. This is a terrible deal. Why are we loaning 3/4 of a billion to a company that has already failed repeatedly?

UM.....I have seen speculation that there is talk of the public sector sinking $10BILLION into this project.

 

[Taichiliberal]

Once again, another stupid ass, low paid Maga troll parrots Trump trash WITHOUT doing even the most basic research ... as we all know that Maga mooks and "critical thinking" are seldom synonymous. Check this out .... easily accessed on Google:

Mesabi Metallics is a Minnesota-based steel and mining company, owned by India’s Essar Group, that is developing a $2.5 billion iron ore mine in Nashwauk and a $15 billion fully integrated steel plant in Iowa — the largest of its kind in U.S. history
Mesabi Metallics is headquartered in Nashwauk, Minnesota, on the Iron Range, and is chaired by Rewant Ruia with Joe Broking as President & CEO The company is part of Essar Group, an Indian conglomerate, and is focused on building a 100% American steel supply chain — mining iron ore in Minnesota and manufacturing it in Iowa

The hypocrisy and double standards are astounding! I recall the right-wing media having a shit fit when it was discovered that presidential candidate Al Gore had a donor that was tied to the PRC. Then there's been the never-ending caterwauling since 9-11 about the Muslims and Sharia law taking over America. Then the Orange Oaf campaigning in 2016 carrying on about how "chy-nuh" is "eating our lunch" in trade and on the international market.

And the Triple Trumper's and maga media whores all seal clapped and barked the company line ... just as they are now with total lack of self awareness.

Mind you, there is no guarantee that this "deal" will go through, as the Orange Oaf has a private and political history of making promises he can't keep. But we are living through the vestiges of Orwell's 1984, where the state can change the narrative at the drop of a hat and the populace (or in our case part of it) just goes with the flow.

As the old Chinese curse goes, we are living in interesting times.

 

[Into the Night]

6,000 construction jobs and $95 BILLION infusion into the economy

"The LARGEST steel plant in AMERICAN HISTORY."

American steel IS BACK!

The plant will begin production in 2030 and close to 2,000 manufacturing or mining jobs are expected

"The steel will be mined, melted and made RIGHT HERE in the USA."

"Once completed, [the] new steel plant will produce 10 MILLION tons of steel per year using iron ore from the company's Minnesota mine! LOUSY governor but great iron ore."

"The first new iron ore mine in the US in more than 50 years."

https://twitter.com/x/status/2104639527000395840

View: https://x.com/EricLDaugh/status/2104639527000395840

Absolutely great for Iowa!

I always knew dirt was better than Tampon Tim.

 

[Into the Night]

And the suckers figure this time he will actually do what he says he will do.

View attachment 97067

Trump isn't doing it, moron. Private investors are.

 

[Into the Night]

There are so many things with this that are not mentioned.

Messabi Metallics is an Indian owned company.

...so?
The steel will be smelted from US ore, and produced in the US.

They currently have over three quarters of billion dollars in federal backed loans thanks to Trump.

Stop making shit up.

Their parent company declared bankruptcy in 2016 to try to retain mining leases.

Stop making shit up.

They have have a history of failing to live up to their claims which resulted in losing mining leases.

Stop making shit up.

They were scheduled to start producing iron pellets this month but that has now been pushed back as they failed to meet that deadline.

Stop making shit up.

 

[Into the Night]

When did I mock Trump?

DON'T TRY TO DENY YOUR OWN POSTS!

It seems you think you can make shit up to argue against. That is called a straw man and shows weakness in your debate skills.

DON'T TRY TO DENY YOUR OWN POSTS! Fallacy fallacy.

It seems you don't understand what ownership means.

Word game ignored.

It seems I was wrong. It wasn't just $770 million. The US is actually loaning the full $10 billion.

US EXIM Announces USD 10 billion Support to Essar’s Mesabi Metallics – Outlook Business

The US Export-Import Bank (EXIM) made the announcement during the Indo-Pacific Energy Security Ministerial and Business Forum in Tokyo last week

www.outlookbusiness.com

The United States has announced support of up to $10 billion to Mesabi Metallics, an Essar Group company, for a major minerals and manufacturing project in Minnesota.

Stop making shit up.

What foreign capital? The US is loaning them the full $10 billion for the mining operation. Just 3 months ago, Mesabi Metallics was saying they were planning on selling all their DRI pellets on the open market.

Stop making shit up.

 

[Into the Night]

I see nothing to indicate that this firm can do what they claim they are going to do.....there is no history that indicates this......and they are using mostly government money...

A recipe for another disaster....these sorts of plans rarely pan out.

Private investment is not government money, Chicom.

 

[Into the Night]

The reasons steel mills have not been generally built in IOWA have not changed.

Yes it has, Chicom.

 

[Into the Night]

Yeah, good luck with that one, Trump makes announces every week, we’re still waiting for Mexico’s checks for the wall

Mexico already paid for the wall, anchovies.

 

[Into the Night]

And the native Americans, whose country we stole from them to begin with then raped it, get to sit by quietly and watch yet another one of their sacred ancestral sites get plowed up, steam shoveled and turned into a gaping pit for decades, from some other site they're going to get shoved off to and dumped like unwanted pets.

No surprise that right-wing Republicans as with everything else, just look at their ancient lands with $$ in their eyes.

I'm surprised trump isn't demanding that his name has to be added to it.

What 'sacred ancestral sites'?
What 'ancient lands'? What is 'ancient land'??

 

[Into the Night]

Yep socialize the costs and privatize the profits

Noam Chomsky?? Really??? Gawd are YOU lost!