President Donald Trump has backed a major $15 billion steel development by Mesabi Metallics, a project described as one of the largest steel investments in recent American history.
The project is expected to strengthen domestic steel production while creating thousands of jobs and generating significant economic activity over the next decade.
According to figures released in connection with the project, the development is expected to create about 1,750 permanent jobs, while supporting an estimated 6,000 construction jobs during the building phase.
The project is also projected to contribute approximately $95 billion to the United States economy over the next 10 years.
The investment comes as the Trump administration continues to emphasise domestic manufacturing, expanded mining and increased production of strategic industrial materials in the United States.
Supporters of the Mesabi Metallics development say the project could provide a major boost to American steelmaking and create new opportunities for workers and businesses linked to the mining, construction and manufacturing sectors.
The development is expected to further position domestic steel production as a key component of efforts to expand U.S. industrial capacity and reduce reliance on foreign sources of critical raw materials.
