Dayton doesn't want Mesabi Metallics to get state mining leases

Minnesota Gov. Mark Dayton on Wednesday broke the state's silence on the emerging effort to restart bankrupt Essar Steel Minnesota, saying the new company — Mesabi Metallics — still doesn't deserve the state-owned mineral rights for iron ore under the proposed taconite mine in Nashwauk.

The fledgling company filed a plan in federal bankruptcy court last week, laying out its scenario to restart construction on the half-built project and see it through to production.

The plan could be approved as soon as a March 16 bankruptcy court hearing in Delaware.

Mesabi Metallics says the plan is the best hope of creditors, contractors, vendors and the Iron Range community that's in a constant search for new jobs.

Read more: http://www.duluthnewstribune.com/business/4214534-dayton-doesnt-want-mesabi-metallics-get-state-mining-leases