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Magnetation, Inc.

Iron Ore Producer

Magnetation, Inc. is a natural resources and iron ore mining company. Our process recovers high-quality iron ore concentrate from previously abandoned waste stockpiles and tailings basins. We operate two iron ore concentrate plants located in Bovey, MN and Grand Rapids, MN, and an iron ore pellet plant located in Reynolds, IN. The iron ore we produce supplies North American blast furnaces with the primary raw material used in the steel making process.

BDC Credit Reporter View

Magnetation has been in bankruptcy, looking for a white knight acquiror or investor. However, none has come along and the Company will shortly be liquidated with great losses to creditors and investors.