WSJ highlights Minnesota's Magnetation

The Wall Street Journal profiles Minnesota’s Magnetation, and the company’s method of using magnet technology to efficiently pull out remnants of iron ore from rock previously deemed waste. The process allows the company to create iron pellets that can be used in making steel.

“It’s a way of getting real value out of what considered waste in the last century,” CEO Larry Lehtinen tells the Journal.

The newspaper notes that the price of iron has soared in the last decade, in large part thanks to growth in China and demand for steel there.