Mesabi Metallics makes $110 million mining machine purchase

Mesabi Metallics Company LLC announced a $110 million purchase of a new fleet of mining equipment from Komatsu, through Road Machinery & Supplies Co., a distributor of construction and mining equipment based in Virginia, Minn.

“This investment isn’t just about a dollar amount, it’s about setting a new standard for how iron ore mining is done. By deploying a fleet of 400-ton autonomous haul trucks, we are building the safest, most efficient and most environmentally sustainable mining operation anywhere on the continent,” said Joe Broking, President & CEO of Mesabi Metallics. “This investment keeps us on track to complete the project by the first quarter of 2026, creating hundreds of family-sustaining jobs and boosting the regional economy while reinforcing Minnesota’s Iron Range as the center for innovation and reliability in iron mining.”

The purchase includes a fleet of Komatsu 980E-5 haul trucks. Featuring the FrontRunner Autonomous Haulage System, these machines are some of the largest mining trucks in the world, and Mesabi Metallics said it’s mine will be the first in Minnesota to operate them.

Mesabi Metallics has ordered a fleet of 400 ton Komatsu haul trucks. (Photo: Mesabi Metallics)

Mesabi Metallics, located in Minnesota’s Iron Range near the town of Nashwauk, is reportedly on track to complete construction of its mine, beneficiation plant and pellet plant for the production of direct reduction grade pellets in the first quarter of 2026.

Mesabi Metallics said its haul trucks from Komatsu will be fully equipped to operate autonomously, increasing health and safety on site by minimizing the number of people required around mining equipment; limiting mining equipment to specific, pre-determined paths; and limiting haul-truck accidents due to driver fatigue or error. Autonomous haulage capabilities also improve fuel efficiency, reducing environmental impact, and will increase cost efficiency.

The mine will form a committee to evaluate the implementation of autonomous haulage and plans to operate the trucks autonomously as soon as feasible, while maintaining the total number of jobs on site.

“We’re proud to partner with Mesabi Metallics and provide a fleet that includes some of the largest and most advanced mining haul trucks operating on mine sites today. This partnership reflects our shared commitment to safety, efficiency and long-term sustainability in mining operations,” said John Ward, senior vice president for Mining and Company Stores at Komatsu North America. “These trucks will be assembled at our facility in Peoria, Ill., and we’re honored to have them support Mesabi Metallics’ next chapter of growth on the Iron Range.”

Mesabi Metallics expects the new mining equipment to arrive in October and deliveries will continue throughout the 2026 calendar year as the project becomes fully operational at full capacity.

“As the first new mine in 50 years in Northern Minnesota, Mesabi Metallics is incorporating exciting new technologies into its equipment operations,” said Michael Sill II, CEO of Road Machinery & Supplies Co. “This is a historic project for Northern Minnesota, and our nation’s steel industry, and we are honored to be part of it.”

Mesabi Metallics will reopen within the footprint of the Butler Mine, a surface operation that closed in 1985. On any given day, Mesabi Metallics said approximately 400 union contractors are on site.