Mesabi Metallics Sues State over Mineral Lease Termination
ST. PAUL (AP) — Mesabi Metallics is suing the state of Minnesota over its iron ore leases which regulators terminated last week.
The state Department of Natural Resources says the company failed to live up to terms of its contract, specifically by having $200 million in land by May 1.
Mesabi Metallics is suing the DNR in Ramsey County District Court for breach of contract and breach of good faith as it attempts to keep its long-delayed mining project from collapsing.
The DNR declined to comment on the lawsuit.
The mineral leases are critical for Mesabi Metallics' taconite project in Nashwauk which has not been completed.