January 26, 2015 11:29 PM ET

Metals and Mining

Company Overview of Magnetation, Inc.

Company Overview

Magnetation, Inc., a specialty iron ore mining company, offers hematite concentrated products to iron, steel, oil and gas, concrete, and water treatment industries. The company produces hematite concentrates from natural ore fine tailings and lean ore stockpiles in northern Minnesota. It offers hematite concentrate for iron nugget, pellet making, and sinter feed; high-grade hematite for ferric sulfate and chloride production; concrete weighting agents for dense foundation applications; and high-grade hematite drill fluid weighting additives for oil and gas drilling industry. Magnetation, Inc. was founded in 2006 and is based in Nashwauk, Minnesota.

832 First Street

Red Rock Business Center

Suite 130

Nashwauk, MN 55769

United States

Founded in 2006





Key Executives for Magnetation, Inc.

Principal Owner
Chief Financial Officer and Chief Accounting Officer
Vice President of Engineering and Operations
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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