Bankruptcy Judge Denies Essar Steel Mineral Leases

Minnesota’s requests to extract Essar Steel’s mineral leases was denied, Tuesday, by a federal bankruptcy judge.

The judge ruled those leases should stay with the company for at least another 90 days, so plans can continue for Essar to work with someone else to take over the Nashwauk mining project.

Ground for the Nashwauk mine and processing center was first broken back in 2008, but was never completed.

Essar owes contractors and vendors millions of dollars, as a result of the project, and resulted in their bankruptcy filing in July.

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