March 01, 2015 7:47 AM ET

Metals and Mining

Company Overview of Magnetation, Inc.

Company Overview

Magnetation, Inc. produces and markets iron ore concentrates and pellets from previously abandoned iron ore waste stockpiles and tailings basins in northern Minnesota. The company offers hematite concentrates for sinter feed, pelletizing, and ITmk3 applications. It also offers hematite concentrated products to water treatment industries as a solution for coagulant and flocculant, ferric chloride, and ferric sulfate production. The company was incorporated in 1992 and is based in Grand Rapids, Minnesota. It has plants in Keewatin, Grand Rapids, and Bovey, Minnesota; and Reynolds, Indiana.

832 First Street

Red Rock Business Center

Suite 130

Nashwauk, MN 55769

United States

Founded in 2006





Key Executives for Magnetation, Inc.

Principal Owner, Chairman and Chief Executive Officer
President, Chief Operating Officer and Board Member
Chief Accounting Officer
Vice President of Engineering
Compensation as of Fiscal Year 2014.

Magnetation, Inc. Key Developments

Magnetation Closes Incremental Increase to Revolving Credit Facility

Magnetation reported that it has closed on a $15,000,000 incremental increase to its senior secured revolving credit facility dated May 20, 2013. The proceeds from the Credit Facility will be used for general corporate purposes. J.P. Morgan Chase Bank, N.A. is the administrative agent for the Credit Facility, with J.P. Morgan Securities acting as sole lead arranger and sole bookrunner, and Associated Bank, N.A. and BMO Harris Bank N.A. acting as co-syndication agents.

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