Trump unveils plans for a $15 billion steel mill in Iowa

President Donald Trump on Monday announced a plan for a $15 billion steel mill in Iowa.

“This steel will be mined, melted and made right here in the USA, which is something very unusual,” Trump said in the Oval Office, where he was joined by Commerce Secretary Howard Lutnick; Joe Broking, the CEO of the company building the plant; and other business leaders.

Mesabi Metallics is constructing the plant with the aim of starting production by 2030, a White House official said. The facility is expected to produce 10 million tons of steel a year and create as many as 1,750 permanent jobs in the state, the official said.

The plant will be capable of supporting defense sector requirements for high-grade steel, the official said.

The president said the plant will “produce some of the highest quality, most affordable steel anywhere in the world.”

The Wall Street Journal was first to report on the new facility.

The announcement comes weeks ahead of the 2026 midterm elections, with Iowa in the center of the fight for the Senate and the House. Democrats are also challenging for the governorship after 16 years of uninterrupted Republican control of the state’s top office.

The…

Original source: https://www.nbcnews.com/business