Iron Ore: The Big Picture

It must be evident to almost everyone by now that a massive transformation is occurring in our iron ore economy. Its equal has been seen only once before in the entire history of the North American steel industry, and not even once before within the personal memory of anyone now engaged in it. The lone precedent was the beginning of ore shipments from the Mesabi Range in October, 1892, which was before anyone still short of normal retirement age had been born. No younger observer, in the steel industry or in any other, has ever known anything else than that the Lake Superior region-in which the Mesabi is the giant-has supplied all but a small fraction of total North American blast furnace ore for the use of three generations of steelmakers. Directly or indirectly, it was the discovery of the Mesabi which created most of the prime and satellite companies that have since come to prominence in the various ore-consuming phases, and it was the same discovery that had broader effects on the entire spectrum of their technologies than any other single event that has ever happened since, although the advent of byproduct coke is a close runnerup. It affected every sector of the national economy and was a keystone in making our standard of living what it is today.