Minnesota iron exports grow in third quarter
Minnesota iron exports grow in third quarter
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 $5.7 billion worth of manufactured, mining, and agricultural products in the third quarter of 2018 – a 6.5 percent increase from the same period last year which represents the 19th largest gain in nationwide exports for this period.
The figures show that ores, slag and ash increased 42 percent in the third quarter to $205 million in exports.
Iron Mining Association of Minnesota (IMA) President Kelsey Johnson says this is part of an encouraging trend.
“As the largest industry in northeastern Minnesota continues to grow it will positively affect nearly every facet of this region’s economy from education to healthcare to government services,” Johnson said. “The growth of iron mining is a positive trend for northeast Minnesota.”
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.