People have been asking us about the Iron Industry in Minnesota, so we wanted to share information from Minnesota Iron Mining…
The Iron Mining Association of Minnesota’s (IMA) mission is to promote an iron ore industry that will provide long-term growth and prosperity for all stakeholders through profitability in a competitive, global market.
The membership is made up of the nine producing iron ore mines in Northeast Minnesota that are capable of producing more than 40 million tons of taconite annually from Minnesota’s iron ore deposits. The trade association is also made up of 200 vendors that supply products and services to the mining industry. The companies that operate the mines include ArcelorMittal, Cliffs Natural Resources, Magnetation, Steel Dynamics and U.S. Steel.
The iron mines directly contribute $1.8 billion to the economy of Minnesota every year in the form of purchases, wages and benefits, taxes and royalties. Subsequent business impact induced as the result of iron mining is responsible for more than an additional $1.6 billion – making the total economic impact $3 billion on the state and region’s economy. Currently the mines directly employ 4,200 men and women and support an additional 13,000 employed by vendors.