MagIron LLC has signed a deal to purchase the Reynolds Pellet Plant in Indiana, with the transaction set to close by December 31, 2025.

This facility, previously valued at US$440 million, allows the company to produce Direct Reduction (DR) grade pellets. By integrating this plant with its existing iron ore concentrating facility in Minnesota, MagIron aims to become the first domestic producer of merchant pig iron.

The company plans to utilize over 2.6 billion tons of feedstock to support long-term operations. This move seeks to end US reliance on foreign pig iron imports while providing higher-quality materials for the automotive and defense sectors.

Working with Primetals Technologies, MagIron intends to establish a low-carbon, entirely onshore supply chain for American steelmaking.