<div id="readability-page-1" class="page"><div id="parent_top_div">Essar Group-backed Mesabi Metallics Company LLC said on Tuesday that it has entered into a new $520-million senior secured credit facility with Valor Mining Credit Partners II, managed by Breakwall Capital LP, with Vitol, as it nears commercial operations in Minnesota later this year. The financing will provide support to its $2.5 billion direct reduction (DR) grade iron ore mine and pellet plant located on more than 16,000 acres in northern Minnesota. The project will onshore a strategically important segment of the US steel supply chain, the company said. About 750 construction workers are currently on site. The Essar Group has already invested over $2 billion of equity in the project. One of the largest private sector industrial investments in the state’s history, the project has also received support from the US Export-Import Bank (EXIM), underscoring its strategic importance to US manufacturing and supply chain security for the American manufacturing, automobile, infrastructure, shipbuilding, and defence sectors, the company said. Describing the partnership with Breakwall as an important milestone for Mesabi Metallics, Joe Broking, president and chief executive officer of Mesabi Metallics, said, “We are bringing to market a brand-new American source of the highest quality DR-grade iron ore that will help US steelmakers reduce reliance on imported raw materials and international supply chains.” America is already the global leader in next-generation electric arc furnace-based steelmaking, he added. Mesabi Metallics, he said, will create hundreds of “high-quality” jobs in northern Minnesota and support the reshoring of American industrial dominance. Daniel Flannery, president and managing partner of Breakwall, said, “Mesabi Metallics is a great example of the type of high-quality company and large-scale mining project we seek to partner on — anchored by a long-life resource in an advanced stage of development, with strategic importance to critical industrial development.” Jamie Brodsky, co-chief executive officer and managing partner of Breakwall, added, “This deal further demonstrates the breadth of our partnership with Vitol, combining credit solutions with global resource marketing acumen, to deliver a multitude of solutions for top-tier companies like Mesabi Metallics and world-class operators like the Essar Group.”</div></div>

德银基础金属 ETF - PowerShares

金属采矿 ETF - SPDR

SUPL

全球金属和采矿生产商 MSCI ETF - iShares

Essar Group 的 Mesabi Metallics 已从 Breakwall Capital LP 获得 5.2 亿美元的高级担保信贷额度，以支持其在明尼苏达州的 25 亿美元铁矿和球团厂项目。该项目旨在增强美国钢铁供应链，并已吸引了 Essar 超过 20 亿美元的股权投资。预计将创造数百个就业机会，并得到了美国进出口银行的支持，突显了其对美国制造业和供应链安全的重要性

Essar's Mesabi Metallics secures $520 million funding from Breakwall

Business Standard

Magnitogorsk Iron & Steel Works PJSC Sponsored GDR Reg S

Mesabi Trust

Proshares Supply Chain Logistics ETF

Essar 的 Mesabi Metallics 公司从 Breakwall 获得了 5.2 亿美元的资金支持