Minnesota’s iron mining industry contributed to an increase in state exports, according to a recent release from the Minnesota Department of Employment and Economic Development (DEED).
According to the release, Minnesota companies exported $5.1 billion worth of manufactured, mining, and agricultural products in the second quarter of 2017 – a 7.4 percent increase from the same period last year.
The figures show that ores, slag and ash (mostly iron ores) surged 306 percent in the second quarter driven largely by major increases in sales to Canada and Japan.
“This increase in exports shows that Minnesota’s iron mining industry is slowly coming around,” said Iron Mining Association of Minnesota (IMA) President Kelsey Johnson.
“It appears that steel tariffs are starting to have an impact on our ability to produce on a level playing field,” she said.
In addition, Johnson noted, a number of the state’s top exports – including machinery, electrical machinery, and vehicles – couldn’t exist if not for Minnesota’s iron mining industry, which provides the raw product needed for the steel from which they are made.
Minnesota is the nation’s top producer of iron ore and places in the top five annually for the value of its mined products.
Posted: Aug 31st, 2017