Mercuria Energy Announces Plans to Invest in Mesabi Metallics
DULUTH, Minn. – Mercuria Energy announced on Wednesday that they have signed a Memorandum of Understanding with Chippewa Capital Partners, LLC the owner of Mesabi Metallics LLC.
Mercuria says the investment is intended to support the creation of new long-term jobs on the Mesabi Range.
The transaction with CCP will allow Mercuria to acquire majority stake in the iron ore producer.
“This investment can directly support job creation and economic growth in Nashwauk, Itasca County and Minnesota’s Iron Range,” said Mercuria CEO Marco Dunland.