Word: mesabi
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...territory to M. A. Hanna's hodgepodge empire. With three of his longtime ore customers (Inland Steel, Armco and Wheeling Steel), Humphrey put together a $15-million syndicate to buy control of Butler Brothers,* which owns five groups of ore mines and large reserves in Minnesota's Mesabi and Cuyuna ranges. Mesabi's high-grade ores are being rapidly depleted, and the deal gave Humphrey's syndicate a fat share of what's left. Butler Brothers annually ships some three million tons of ore, almost one-third as much as M. A. Hanna handled last...
Phenol & Foxes. Sharp-eyed George Humphrey always seems to be looking ahead. Long before steelmen began worrying about exhausting the Mesabi's rich ores, his pilot plants were seeking economic ways of extracting the plentiful lower-grade taconite ores. (To find new iron ore sources, Humphrey's explorers, supplied by air, are also probing in Labrador.) Though many think coal a dying industry, Humphrey and Standard Oil Development are building a pilot plant to make gas (and later gasoline) from coal by burning it right in the mine. Three years ago Humphrey moved into Durez Plastics & Chemicals...
Other steel companies have followed Republic's lead. All told, mining companies have spent more than $40 million to develop Adirondack mines. Adirondack ores are costlier to dig, but have a richer iron content than those from Minnesota's famed Mesabi range, which still supplies the U.S. with 83% of all its iron. Steelmen, who know that Mesabi has only ten years of high-grade ore production left, think New York's old iron mining country is finally coming into...
...world's most precious topographical oddities. Caué is Brazil's Iron Mountain, a fabulous lode of some of the world's best ore, pure enough (up to 68%) to compete with Sweden's finest, vast enough to challenge Minnesota's great Mesabi...
...that this meant an early opening for the rest of the Great Lakes, usually icebound till mid-April. It would come none too soon for steelmen. Their stockpiles of ore were so low that some mills were planning the expensive makeshift of shipping by rail from Minnesota's Mesabi range. The coal strike (see NATIONAL AFFAIRS) would cut their needs if it lasted long enough. But steelmen kept their fingers crossed on that, as the Mackinaw steamed north to smash through the Straits of Mackinac, and later...