Cliffs Natural Resources has selected Toledo, Ohio as the site for its first hot briquetted iron, or HBI, production plant.
The plant will be able to produce one point six million tons of HBI, and will create 130 jobs, in addition to 12-hundred construction jobs.
Cliffs CEO Laurenco Goncalves says the company chose Toledo over a site in Minnesota based on logistics, including port and railway access.
The project is estimated to cost about $700 million dollars, and construction is expected to begin early next year.
Production is expected to begin in 2020.