U. S. Steel Celebrates Advancement in Metallics Strategy with DR-Grade Pellet Capability at Keetac
United States Steel Corporation (NYSE: X) (“U. S. Steel”) leadership and employees were joined by Minnesota Governor Tim Walz, other elected officials, and key partners to celebrate the Company’s investment in direct reduced (DR)-grade pellet capabilities at its Minnesota Ore Operations Keetac plant today. The investment marks a step forward in U. S. Steel’s metallics strategy by supplying the increasingly tight DR-grade pellet market and provides the company with the flexibility to feed a potential future direct reduced iron (DRI) or hot briquetted iron (HBI) facility. DRI and HBI are important electric arc furnace metallics inputs.
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U. S. Steel President and CEO David B. Burritt addressing the crowd at DR-grade pellet investment celebration at Keetac. (Photo: Business Wire)
Minnesota Governor Tim Walz joined the celebration along with U. S. Steel President and CEO David B. Burritt and Senior Vice President and Chief Manufacturing Officer Scott Buckiso to discuss U. S. Steel’s commitment to produce products that are mined, melted and made in America. The $150 million investment expands on the Company’s existing competitive advantage in low-cost iron ore.
“Our investment at Keetac is a commitment to the future of American steel,” said U. S. Steel President and CEO David B. Burritt. “As we look forward to celebrating National Manufacturing Day on Friday, I want to recognize the exceptional team working on this project and our employees for their dedication. When we do well, so do our employees and the communities where we live and work; the Iron Range remains a critical part of our future.”
The Company broke ground on the facility in the third quarter of 2022, and the facility is expected to be operational in late 2023 with first pellets produced in 2024.
“I’m proud to celebrate U. S. Steel’s major investment in the Northland,” said Governor Walz. “Minnesota’s steel industry is a critical part of our history, culture, and thriving economy – and a critical job creator on the Iron Range. I look forward to the growth this investment will bring to both our regional and statewide economies.”