Mesabi Metallics, the company in control of the embattled Nashwauk mining project, has just hours remaining to submit financial and offtake agreements to Minnesota regulators before the stateâs Executive Council is set to decide their fate next month.
The deadline is part of an amended lease agreement approved by the stateâs top elected officials â including the governor, lieutenant governor, attorney general, secretary of state and auditor â in a controversial extension of terms last December.
If Mesabi Metallics makes its Saturday deadline in earnest, the Executive Council can approve their financial and offtake partners allowing the company to move forward. On the other hand, they could deem the submissions insufficient and opt to pull leases on state owned minerals, effectively dealing the final blow to the current iteration of the project.
At a young age, weâre often given warnings like âdonât touch; thatâs hot!â Unfortunately, we donât really learn the consequences of touching hot surfaces until we have the experience of being burned. In the case of Essar Steel Minnesota and the repeated failed attempts to develop the rich iron ore resource in Nashwauk, the Iron Range can unequivocally say we have been burned by this company and we should know better than to touch that hot surface again.
I am going on record today with explicit opposition to the stateâs ongoing support of Essar and have asked my fellow Iron Rangers to join me in urging the state Executive Council â consisting of the governor, lieutenant governor, attorney general, state auditor and secretary of state â to provide some overdue transparency to this process by thoroughly reviewing Mesabiâs lease requirements prior to the state taking any action. As elected state leaders, the Executive Council is responsi
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On this date, April 15, in history:
In 1452, Leonardo da Vinci was born in Vinci, Italy. He would go on to paint some historic religious scenes, most specifically The Last Supper, as well as the iconic Mona Lisa. He is widely considered to be one of the greatest artists in history, but was also a scientist, mathematician, engineer, botanist, musician and writer. He died in 1519.
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Technuter
Yotta Infrastructure announced that Essar Capital Ltd., having investments worth around USD 14 billion, has undertaken a large-scale digital transformation initiative by consolidating their various on-premise datacenters into Yotta’s state-of-the-art Yotta NM1 datacenter at Panvel, Navi Mumbai. This move was prompted by growing demand of IT enabled services and new technologies by various Essar companies. To remain focused on supporting business innovation instead of managing datacenters, the Essar IT team awarded a contract for end-to-end managed co-location services to Yotta Infrastructure.
The contract was awarded after a thorough evaluation of all options available in the market – a process that spanned across a year. Yotta NM1 (world’s 2nd largest Uptime Tier IV datacenter) now hosts 100+ applications of the EGFL (Essar Global Fund Ltd.), including collaboration tools, communication applications, SAP ERP, HR-related applications, and multiple engineering applic
BW Businessworld
Essar Projects Wins USD 62 Million Contract From Papua New Guinea
EPPNG has emerged as Papua New Guinea’s preferred partner over a decade now for creating world class infrastructure and enjoys a grand support from the local citizens as well, the company claimed.
Photo Credit : Reuters
Essar Projects on Wednesday said it has won a contract worth over USD 62 million (around Rs 456 crore) from the government of Papua Guinea.
The project pertains to construction of provincial headquarters in the Jiwaka province. Essar Projects Ltd, a part of Essar Capital’s technology and services portfolio.said its subsidiary Essar Projects PNG (EPPNG) has won a contract worth over USD 62 million from the national government of Papua New Guinea to construct a provincial headquarters and associated works in the Jiwaka province, the company said in a statement.