More Layoffs on Minnesota’s Iron Range

HOYT LAKES, Minn. (AP) — More layoffs have been announced on the Iron Range of northern Minnesota, this time at Mesabi Nugget in Hoyt Lakes and Mining Resources in Chisholm.

Their Indiana-based parent company, Steel Dynamics Inc., said in a statement Tuesday that the operations are being idled effective immediately.

The Hibbing Daily Tribune reports it means the loss of about 200 positions for at least two years.

CEO Mark D. Millett cites a sharp fall in prices for pig iron, which is what the two operations produce. He says the company doesn't see any indications of a reversal in prices soon.

Mining Resources in Chisholm produces iron concentrate from taconite tailings, while Mesabi Nugget in Hoyt Lakes produces high-purity iron nuggets.

Other Iron Range operations have cut nearly 1,300 jobs this year.