The saga goes on.
A deal announced Tuesday under which Mesabi Metallics purchased 3,200 acres of land at the site of its planned iron ore plant in Nashwauk gives the company ownership of the land, according to the company.
But it doesn t give Mesabi Metallics the ability to mine iron ore from the acquired property.
Cleveland-Cliffs, Inc., holds lease rights on the property for 47 more years, Pat Persico, Cleveland-Cliffs director, corporate communications said Wednesday.
âMM s (Mesabi Metallics) announcement does not impact or affect in any manner the full control Cleveland-Cliffs has over approximately 3,800 acres of land which we own outright or for which we have lease rights through 2068,â Persico said in an email.