Mining Lease Amendment Approved for United Taconite
Minnesota Department of Administration | State of MinnesotaState · Saint Paul, MN- Disclosed value
- $10,800 per year rental; $1.00 per ton base royalty, subject to escalator; estimated approximately $55 million in royalty payments over extended term
- From agendapacket
- Approved
- Sep 22, 2026
- Renews
- Free account
The 30-second brief
The Minnesota Executive Council approved a second amendment to United Taconite LLC’s state taconite iron ore mining lease. The amendment extends the lease through February 28, 2052, sets annual rent at $10,800, and establishes a $1-per-ton base royalty subject to escalation.
United Taconite LLC holds this contract with Minnesota Department of Administration | State of Minnesota. Its other public contracts on record include work for City of Eveleth and Rock Ridge Public Schools.
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Contract details
- Amount
- $10,800 per year rental; $1.00 per ton base royalty, subject to escalator; estimated approximately $55 million in royalty payments over extended term
- Document date
- September 22, 2026
- Term
- March 7, 2002 – February 28, 2052; amendment effective March 1, 2027; 25-year extension, 50-year total lease term
- Renews
- On record
- Vendor
- United Taconite LLC
- Source document
- State of Minnesota Executive Council AgendaPacket September 22, 2026 (AgendaPacket)
United Taconite LLC's other public contracts
More Minnesota Department of Administration | State of Minnesota contracts
Questions about this contract
Who was awarded the government contract by Minnesota Department of Administration | State of Minnesota?
United Taconite LLC was awarded this government contract by Minnesota Department of Administration | State of Minnesota, as recorded on September 22, 2026. The contract value is $10,800 per year rental; $1.00 per ton base royalty, subject to escalator; estimated approximately $55 million in royalty payments over extended term.
How much is the United Taconite LLC contract with Minnesota Department of Administration | State of Minnesota worth?
The United Taconite LLC contract with Minnesota Department of Administration | State of Minnesota is valued at $10,800 per year rental; $1.00 per ton base royalty, subject to escalator; estimated approximately $55 million in royalty payments over extended term.
What type of contract is this?
This is a government contract, documented as a agendapacket record.
Where was this contract approved?
This contract appears in State of Minnesota Executive Council AgendaPacket September 22, 2026 (AgendaPacket), dated September 22, 2026 from Minnesota Department of Administration | State of Minnesota. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does United Taconite LLC hold?
United Taconite LLC may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Minnesota Department of Administration | State of Minnesota currently buying?
Explore Minnesota Department of Administration | State of Minnesota's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.