Essar Group’s US-arm Mesabi Metallics raises $150-M from Macquarie Group

Minnesota (US)-based Mesabi Metallics , backed by Mumbai-based Essar Group, has raised USD 150 million from Macquarie Group.Mesabi Metallics is a producer of direct-reduction (DR) grade iron ore pellets. It is currently constructing a 7-million metric tonne DR grade iron ore pellet mine with resources of 1.3 Billion tonnes on over 16,000 acres.