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Land deal clears way for new iron ore mine in Iron Range

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Steel Dynamics and Cleveland-Cliffs announced a land deal Monday that would lead to the opening of a new mine to provide raw material for the world's first commercial iron nugget plant.

The mine and plant together would employ about 200 to 300 workers, compared with 50 for the nugget plant alone, said Steel Dynamics chairman and CEO Keith Busse.

The Mesabi Nugget plant is planned for the former LTV Steel Mining Co. site near Aurora and Hoyt Lakes.

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