Mesabi Enters A New Era

The story now unfolding on the Mesabi Range is more than just another chapter in the continuing history of iron mining. It is an epic of foresight, research and pioneering instinct just now culminating in the rapid growth of a new industry hardly more than ten years old. And that growth has been impressive. In the decade that has passed since Reserve Mining Co. blazed a trail as the first successful large- scale commercial taconite operation, the number of plants now existing or soon to be operating has grown to six. From Reserve's initial capacity of 3 million tons of pellets per year, total production capacity on the Range has surged to 31.5 million tons while capital investment has leaped from $300 million in 1955 to almost $1 billion today. During the past year alone, more than $500 million has been committed to these projects, an amount probably greater than that going into any other single mining area in the world. There is more yet to come.