Estimating Minnesota's Taconite Reserves By Computer

During the past eight years there has been a dramatic change in the iron ore industry of Minnesota, in that its status has changed from that of a seller's market to a higly competitive buyer's market. Minnesota's natural ores must now be beneficiated and up-graded considerably to be marketed in order to compete with the higher grade foreign ores as well as with the locally produced and highly desirable taconite pellets. With the passage of the "Taconite Amendment' in the November, 1964 election, the taconite industry commenced to expand in Minnesota, which, although initiated in that state, was benefiting many other states and some foreign countries to a much greater extent than Minnesota. These other areas were actually appropriating markets that had been established and retained by Minnesota for many years. Since the approval by the state voters of this amendment, there has been a great increase in the development of taconite properties on the Mesabi Range.