Cargill, Iron Range company in deal over mining wasteby Bob Kelleher, Minnesota Public Radio
Duluth, Minn. — An Iron Range company that recovers iron from mining waste is going international through a new agreement with Cargill.
Magnetation Inc. is now expanding its first plant near Keewatin, where it recovers marketable iron ore from left behind iron mining tailings. The company starts this spring on a second plant near the town of Taconite.
Now, the agreement with Cargill could see Magnetation's patented Rev-3 separator at work in other old mining or ore processing sites.
Magnetation CEO Larry Lehtinen said the two companies will work together to choose locations.
"We're going to exclusively work with Cargill on an international front to build joint ventures," Lehtinen said.
Cargill Ferrous International Vice President Bob Mann said the new agreement could expand the process internationally.
"Virtually every iron mining operation around the world has some form of iron waste, or tailings," Mann said. "What we're in right now with Magnetation is a joint development agreement to explore some of those sites, based on, let's say, the quality of the waste that exists, where the Magnetation technology can best be used and then also how that is located in relation to the main consuming markets around the world."
Lehtinen said Cargill's support demonstrates the real commercial value the process holds for the iron industry worldwide. The parties did not disclose what Cargill pays for the deal.