ERP Iron Ore, LLC:
ERP Iron Ore, LLC ("ERPIO"), a subsidiary of ERP Compliant Fuels, LLC, through the acquired Magnetation assets, plans to recover high-quality iron ore concentrate from previously abandoned iron ore waste stockpiles and tailings basins in Itasca County of Minnesota. Upon closing of the APA, ERPIO will own three iron ore concentrate plants located in Keewatin, MN, Bovey, MN and Grand Rapids, MN, a railroad loading facility in Grand Rapids, MN and a 3.0 million tons per annum iron ore pellet plant in Reynolds, IN.
This press release contains statements which are forward-looking in nature and relate to our expectations, beliefs and intentions. All statements other than statements of historical fact are statements that could be deemed to be forward-looking, including but not limited to statements about the expected impact and timeframe of the APA and our ability to fulfill customer needs. These statements are subject to risks, uncertainties and assumptions that could cause outcomes to differ from our expectations, including but not limited to variability in iron ore prices, changes in demand for our products or steel, unforeseen operational difficulties with or costs relating to our plants or third-party suppliers, negotiations with collective bargaining units, and other factors described in the reports and information provided to our investors. We assume no obligation and do not intend to update any such forward-looking statements.
Media Contact: Matt Lehtinen
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/magnetation-llc-announces-the-sale-of-its-assets-to-erp-iron-ore-llc-300374747.html
SOURCE Magnetation LLC