Google+ CEO: Essar still viable as mine developer - Minnesota Iron

CEO: Essar still viable as mine developer

by Beth Bily, Business North

Essar Steel Minnesota’s new CEO, Matthew Stock, has wasted no time introducing himself to Iron Range officials.

Stock, who replaced Madhu Vuppuluri in July, addressed the Nashwauk City Council Tuesday in an attempt to assure locals that the company does, indeed, have a path forward.

Stock’s company has been under Chapter 11 bankruptcy protection since July of this year. Essar, which proposes a taconite mining and processing facility at the former Butler Taconite Mine near Nashwauk, has faced numerous work stoppages due non-payment to contractors as well as other factors. The half-built project has been under construction for nearly a decade.

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