Minnesota Department of Iron Range Redevelopment and Resources

Niron Magnetics, a Minneapolis-based company, is considering building its largest facility on Minnesota’s Iron Range to replace jobs lost from declining iron-ore mining. The project aims to reduce U.S. reliance on Chinese-imported rare-earth minerals by producing magnets using Minnesota iron and nitrogen, with plans for a $1.8 billion plant by 2029. Minnesota officials and economic development agencies view the project as a transformative opportunity aligning with infrastructure, energy, and workforce goals.