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Economic Impacts
Economic Impacts

Investing in the Mining Expertise of St. Louis County, MN

Mining Ore for Over 140 Years

St. Louis County has a long history of mining, and the NorthMet Project provides an opportunity to responsibly develop critical minerals while supporting the local workforce and economy. NewRange is focused on leveraging existing infrastructure, labor expertise and partnerships to provide economic benefits to northeastern Minnesota.  

Key Facts

New Energy for Northeastern Minnesota Mining

NewRange brings fresh opportunities to a region linked with mining for over 140 years. Infrastructure and a skilled workforce are already in place, primed for new investment. Want to learn more? Check out our NewRange Careers Page: NewRange Careers Page.

1,000+

Support over 1,300 full-time, family-sustaining jobs plus nearly 900 jobs during construction

$47M

$47 million generated annually in state and local taxes

$1B

Investing over $1 billion to responsibly develop this project

Economy
Large Scale-Investment 

Once permittedNewRange plans to invest over $1 billion to responsibly construct a world class mine that will support economic growth for current and future generations. 

More Lasting Careers and Jobs 

Our NorthMet Project alone is will directly support over 1,300 jobs during operation, nearly 900 during construction, and stimulate local and regional small businesses, contractors, and suppliers. 

Tapping the Potential of St. Louis County 

NewRange operates in St. Louis County, MN, which has below-average household incomes and elevated poverty rates compared to the state average.

Tax Revenues for Local Schools and Services

Tax contributions of $47 million annually at the state and local levels have the potential to drastically increase school district funding and improve living conditions. 

Working for Better Safety and Efficiency 

Our commitment to community partnerships is evident in our 2024 cooperation agreement with the United Steelworkers and the ongoing commitment of our Project Labor Agreement with the Building Trades. Led by President and General Manager Tannice McCoy, we take pride in our 30% female workforce and remain dedicated to expanding diversity within our team. 

Support America’s National Security 

NewRange projects provide a reliable, domestic supply chain of multiple clean energy minerals that are critical to a strong national defense. 

  • Copper production enables the creation, conduction and storage of electricity, and it is also a key component in tactical armor build. 
  • Nickel production enables the creation of high-temperature aerospace alloys, stainless steel and chemicals for lithium-ion batteries.
  • Cobalt production enables the creation of military technologies such as aircrafts and precision-guided missiles. 
Become Less Dependent on Foreign Resources 

While current U.S. copper, nickel and cobalt production is insufficient to meet domestic needs today, the United States does have the resource potential that can be unlocked with the right policies. 

  • The U.S. relies on foreign countries for more than 45% of its copper. NewRange controls 18.6 million tons of copper resource. 
  • The U.S. relies on foreign countries for more than 55% of its nickel. NewRange controls 4.6 million tons of nickel resource.
  • The U.S. relies on foreign countries for more than 76% of its cobalt. NewRange controls 510,000 tons of cobalt resource. 
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