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Minnesota company making progress on Indiana iron pellet plant

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REYNOLDS, Ind. (AP) — A Minnesota company says it is making good progress toward opening within a year a $350 million factory in northern Indiana to produce iron ore pellets.

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Magnetation Inc. of Grand Rapids, Minn., announced in late 2012 it would build the new factory at the site of an abandoned ethanol plant in the White County town of Reynolds. Several large buildings for the factory are under construction at the site.

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