Magnetation deal on hold

Deal could be done Tuesday

A deal that would lead to E.R.P. Iron Ore purchasing the now bankrupt Magnetation’s plants on the Iron Range, was put on hold yesterday.

Judge William Fisher’s office in St. Paul, told Fox 21 the hearing has been rescheduled for Tuesday.

If approved E.R.P. would take over Magnetation’s idled plants plants in Grand Rapids, Bovey, and Keewatin.

E.R.P. Iron Ore’s goal is to get back up to three million tons of pellets per year.

Both Magnetation and E.R.P could not be reached for comment.