Shares of Macquarie Group (ASX:MQG) rose around 3% in recent Tuesday trade after Mesabi Metallics said on Monday that it had secured $150 million in financing from the bank to support the third-quarter startup of its world-scale iron ore mine and pellet plant in Minnesota.
The $2.5 billion project, spanning over 16,000 acres, aims to supply DR-grade iron ore for next-generation electric arc furnaces, representing one of Minnesota's largest private-sector industrial investments.
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