Trump unveils plans to build $15B steel mill in Iowa

Photo: President Donald J. Trump makes an announcement on steel, Monday, September 28, 2026, in the Oval Office at the White House. (Official White House photo by Molly Riley). Attribution: “P20260928MR-1452” by The White House via Flickr. United States Government Work. Article by Nathan Owens. Manufacturing Dive – September 29, 2026.

Dive Brief:

• President Donald Trump on Monday announced a Minnesota steelmaker’s plans to invest $15 billion in Iowa to build what would become the largest U.S. steel mill.
• The Mesabi Metallics-led project will create 1,750 jobs and add 10 million tons of annual steel production capacity, Trump said at the Oval Office. It is also expected to generate $95 billion for the U.S. economy during construction and the first 10 years of operations.

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