Mining Tax Guide - Minnesota State Legislature

Figure 21
Taconite Economic Development Fund Distribution to
Northeast Minnesota Taconite Producers*
Summary
Payable 1993 through 2010 (on 1993 through 2010 production)
Total per
company
2011 Amount
2011
Project Description
Company 1993 - 2010
United Taconite (1) $14,595,020 Project Pending Approval $1,524,271 $16,119,291
(former EVTAC Mining)
Hibbing Taconite Company $28,341,545 Project Pending Approval $1,550,083 $29,891,628
ArcelorMittal Minorca Mine $10,529,081 Project Pending Approval $777,476 $11,306,557
(fomer Ispat Inland Mining Company)
LTV Steel Mining Company $11,361,981 Facility Permanently Closed in 2001 $0 $11,361,981
U.S. Steel - KeeTac (2) $16,555,888 Project Pending Approval $1,095,354 $17,651,242
(former National Steel Pellet Company)
28
Northshore $15,872,429 Project Pending Approval $1,384,087 $17,256,516
U.S. Steel - Minntac $49,151,106 Project Pending Approval $3,329,354 $52,480,460
Magnetation Inc. $0 $12,980 $12,980
Totals $146,407,050 $9,673,605 $156,080,655**
10.4 cpt in 1993
15.4 cpt in 1994,1995 & 1996
20.4 cpt in 1997
15.4 cpt in 1998, 1999, 2000, & 2001
30.1 cpt in 2002 - 2007
20.1 cpt in 2008 for one year
30.1 cpt in 2009
A brief explanation of the TEDF is included on page 5.
Note: cpt = cents per ton
* In accordance with M.S. 298.227.
** Figure includes amounts pending
(1) 2004 TEDF amount reduced $14,083 to $33,997 and 2005 TEDF amount reduced $202,163 to $922,583.
(2) 2004 TEDF amount reduced $208,333 to $1,289,110 and 2005 TEDF amount reduced $252,854 to $1,374,096.