Fact-check · Sep 28, 2026 · Donald Trump
“$2,500,000,000 iron ore mine”
TRUE
What the record shows
Mesabi Metallics' iron ore mine and pellet plant on Minnesota's Iron Range represents a $2.5 billion investment, confirmed by company statements, EXIM filings, and multiple news sources as of September 2026.
Sources
- Blast, at last: Minnesota’s first new iron ore mine in 50 years targets new era of steelmaking
- Mesabi Metallics completes first production blast at Minnesota iron ore mine
- Could a new iron ore mine turn Minnesota into a green steel powerhouse? | KAXE
- EXIM Chairman Visits America’s First New Iron Ore Mine in 50 Years as Operations Begin in Northern Minnesota | EXIM.GOV
- Mining boosters see a golden opportunity for Minnesota's Iron Range, if it doesn’t slip away | State | gazettextra.com
- This Iron Range mine is one of Minnesota’s biggest economic development projects ever
From: President Trump Makes an Announcement, Sep. 28, 2026
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