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Latest financing builds on recent capital momentum for structurally important American iron ore project
NASHWAUK, Minn., April 6, 2026 /PRNewswire/ -- Mesabi Metallics Company LLC (Mesabi Metallics), backed by Essar Group, today announced that it has secured $150 million of financing from Macquarie Group, supporting the Q3 2026 startup of its world-scale Direct Reduction (DR) grade iron ore mine and pellet plant in Nashwauk, Minnesota.
The financing follows Mesabi's recently announced $520 million senior secured credit facility with Breakwall Capital, further reinforcing the strong momentum behind the project.
Mesabi has also recently received support from the U.S. Export-Import Bank (EXIM), reflecting the project's growing strategic importance to U.S. manufacturing, infrastructure, automotive, shipbuilding and defense.
Mesabi Metallics is building a strategically important new American source of DR-grade iron ore at a time when the United States is working to strengthen industrial supply chains and reduce reliance on imported raw materials.
Located on more than 16,000 acres in Northern Minnesota, Mesabi Metallics is completing a $2.5 billion world-scale merchant DR-grade iron ore mine and pellet plant that will supply the next generation electric arc furnaces of American steelmaking- the cleanest and most energy efficient way of making high quality steel.
With more than 800 construction workers currently on site, the project is one of the largest private-sector industrial investments in Minnesota's history. Essar Group has already invested more than $2 billion of equity into the project.
"This financing from Macquarie marks another major step forward for Mesabi Metallics and builds on the strong momentum we have established with our recently announced financial partnerships," said Joe Broking, President and CEO of Mesabi Metallics. "Together, these transactions reflect growing confidence in the quality, scale and strategic importance of our project as we build a new American source of DR-grade iron ore to strengthen domestic steel supply chains and reduce dependence on imports."
"Macquarie has enjoyed a longstanding financing relationship with Essar Group, and we are pleased to extend that relationship to their metals and mining investments in the US," said Mike Burns, Senior Managing Director in Macquarie Group's Commodities and Global Markets business. "Mesabi is developing a high-quality and strategically important project for the U.S. steel sector, and we look forward to supporting the company over the long term."
About Mesabi Metallics Company LLC
Mesabi Metallics Company LLC, an Essar Group company, is constructing a state-of-the-art mine and Direct Reduction (DR) grade iron ore pellet plant to produce premium DR grade pellets on over 16,000 acres in Nashwauk, Minnesota. Once completed, it will be the first new mine and pellet plant in Minnesota in almost 50 years. Mesabi's DR grade iron ore pellets will be strategically positioned to meet the demand of the Electric Arc Furnace market, ensuring supply chain security for DR grade iron pellets in the United States and replacing foreign imported pellets. The endeavor is one of the largest private sector investments in Minnesota. Mesabi Metallics has already invested over $2.2 billion into the project.
Latest financing builds on recent capital momentum for structurally important American iron ore project
NASHWAUK, Minn., April 6, 2026 /PRNewswire/ -- Mesabi Metallics Company LLC (Mesabi Metallics), backed by Essar Group, today announced that it has secured $150 million of financing from Macquarie Group, supporting the Q3 2026 startup of its world-scale Direct Reduction (DR) grade iron ore mine and pellet plant in Nashwauk, Minnesota.
The financing follows Mesabi's recently announced $520 million senior secured credit facility with Breakwall Capital, further reinforcing the strong momentum behind the project.
Mesabi has also recently received support from the U.S. Export-Import Bank (EXIM), reflecting the project's growing strategic importance to U.S. manufacturing, infrastructure, automotive, shipbuilding and defense.
Mesabi Metallics is building a strategically important new American source of DR-grade iron ore at a time when the United States is working to strengthen industrial supply chains and reduce reliance on imported raw materials.
Located on more than 16,000 acres in Northern Minnesota, Mesabi Metallics is completing a $2.5 billion world-scale merchant DR-grade iron ore mine and pellet plant that will supply the next generation electric arc furnaces of American steelmaking- the cleanest and most energy efficient way of making high quality steel.
With more than 800 construction workers currently on site, the project is one of the largest private-sector industrial investments in Minnesota's history. Essar Group has already invested more than $2 billion of equity into the project.
"This financing from Macquarie marks another major step forward for Mesabi Metallics and builds on the strong momentum we have established with our recently announced financial partnerships," said Joe Broking, President and CEO of Mesabi Metallics. "Together, these transactions reflect growing confidence in the quality, scale and strategic importance of our project as we build a new American source of DR-grade iron ore to strengthen domestic steel supply chains and reduce dependence on imports."
"Macquarie has enjoyed a longstanding financing relationship with Essar Group, and we are pleased to extend that relationship to their metals and mining investments in the US," said Mike Burns, Senior Managing Director in Macquarie Group's Commodities and Global Markets business. "Mesabi is developing a high-quality and strategically important project for the U.S. steel sector, and we look forward to supporting the company over the long term."
About Mesabi Metallics Company LLC
Mesabi Metallics Company LLC, an Essar Group company, is constructing a state-of-the-art mine and Direct Reduction (DR) grade iron ore pellet plant to produce premium DR grade pellets on over 16,000 acres in Nashwauk, Minnesota. Once completed, it will be the first new mine and pellet plant in Minnesota in almost 50 years. Mesabi's DR grade iron ore pellets will be strategically positioned to meet the demand of the Electric Arc Furnace market, ensuring supply chain security for DR grade iron pellets in the United States and replacing foreign imported pellets. The endeavor is one of the largest private sector investments in Minnesota. Mesabi Metallics has already invested over $2.2 billion into the project.
** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **
Mesabi Metallics Secures $150 Million from Macquarie Group
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Capturing new angles like never before, Galaxy S26 Ultra's broadcast-ready capture transforms how skateboarding is filmed, experienced and delivered in real time
LOS ANGELES, April 6, 2026 /PRNewswire/ -- Samsung Electronics Co., Ltd., a global partner of Street League Skateboarding (SLS) today announced that Galaxy S26 Ultra was used to film live Street League Skateboarding (SLS) competition for the first time when it captured the SLS DTLA Takeover on April 4. Galaxy S26 Ultra's pro-grade camera redefines the role of mobile devices in sports, delivering a fresh visual experience of skateboarding that reflects the intensity of the sport itself.
Sports broadcasting is evolving, bringing fans closer to the experience by moving cameras closer to the action. Samsung is driving this shift with the Galaxy camera system and its ability to operate at broadcast-level performance through the pairing of connectivity and mobility. Earlier this year, Galaxy flagship device was used to stream Opening Ceremony of the Olympic Winter Games Milano Cortina 2026, where Samsung worked alongside Olympic Broadcasting Services (OBS) to embed Galaxy devices throughout the venue at one of the world's largest sports stages. The result was a new layer of visual storytelling, capturing dynamic perspectives that complemented traditional broadcast coverage. These capabilities extended to the Galaxy Unpacked 2026, showcasing its ability to deliver professional-grade video capture and transmission.
Now, Samsung is helping lead this transformation within skateboarding competitions by embedding Galaxy S26 Ultra directly into key course features — including rails, ledges and gaps — across the entire SLS 2026 season, fully scaling the Galaxy POV first introduced at the 2026 SLS Sydney stop.
"Mobile innovation is opening new possibilities for how sports are captured and experienced," said Joshua Cho, Executive Vice President and Head of the Visual Solution Team, Mobile eXperience (MX) Business at Samsung Electronics. "At Milano Cortina we demonstrated how Galaxy technology can complement traditional broadcast systems. With Street League Skateboarding, we're bringing that same approach directly into the course with our newest, most advanced device camera, and using mobile POV to capture skateboarding from entirely new perspectives."
Embedded throughout the course, the devices provide skater-level perspectives, offering angles that traditional broadcast systems often cannot capture. This footage feeds directly into the live production workflow, enabling near-instant replay and offering viewers a fresh visual experience that reflects the intensity of the sport itself.
From speed to the precision of every landing, skateboarding is defined by details that are often lost from a distance. With mobile cameras placed directly inside the course, Samsung is reimagining how the sport is experienced, bringing fans closer to each mid-air movement, board flip and landing. These new perspectives offer deeper insight into technique, timing and control, while strengthening the connection between fans, the sport and the athlete.
Featuring Samsung's most advanced mobile imaging system to date, Galaxy S26 Ultra is designed to perform in fast-moving, unpredictable environments, much like the athletes themselves. It delivers professional-grade camera performance and high-quality footage across a wide range of shooting conditions with enhanced stabilization, intelligent processing and the ability to maintain clarity in low-light or high-speed conditions. This allows it to operate alongside conventional cameras while maintaining clarity, stability and detail within spaces traditional broadcast cameras cannot easily access.
The placement of Galaxy S26 Ultra devices follows the rhythm and flow of each run, revealing the style, speed and precision of each trick from within the course itself. Galaxy features also extend the creative possibilities of production. Features such as Super Steady with horizontal lock stabilization help maintain smooth, level footage even during high-speed motion, while Instant Slow-Mo enables detailed replay of tricks as they happen. Together, these capabilities allow production teams to capture skateboarding with greater clarity, stability and proximity — showcasing the precision, style and technical skill behind every movement.
"Skateboarding is reaching more people than ever before, especially as the sport continues to grow on the global stage," said Brett Clarke, Chief Revenue Officer at Thrill Sports, the parent company of Street League Skateboarding. "Collaborations like the one we have with Samsung help us evolve how the sport is shared with fans while staying true to the creativity and culture that define skateboarding."
The debut of Galaxy S26 Ultra POV integration at the SLS DTLA Takeover signals where sports broadcasting is heading next. As the SLS Championship Tour continues, Samsung will continue exploring how mobile technology can evolve into versatile broadcast tools. Looking ahead to major global sporting events and the road to Los Angeles 2028, this shift suggests a future in which the boundary between smartphone camera and broadcast camera continues to disappear, bringing fans closer to the action.
About Samsung Electronics Co., Ltd.
Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, digital signage, smartphones, wearables, tablets, home appliances and network systems, as well as memory, system LSI and foundry. Samsung is also advancing medical imaging technologies, HVAC solutions and robotics, while creating innovative automotive and audio products through Harman. With its SmartThings ecosystem, open collaboration with partners, and integration of AI across its portfolio, Samsung delivers a seamless and intelligent connected experience. For the latest news, please visit the Samsung Newsroom at news.samsung.com.
About Street League Skateboarding
Since its inception in 2010, Street League Skateboarding (SLS) has propelled street skateboarding from a collection of independent standalone events to a renowned global series. As pioneers of street skateboarding's premium qualification system and competition format, SLS offers an amateur-to-professional pathway and creates thrilling live events across the globe. The SLS Championship Tour is recognized as the world's premier professional street skateboarding competition. Events take place on custom-built, one-of-a-kind, SLS-certified plazas in major cities around the world, with the best in the sport competing for the highest stakes. For more information, visit StreetLeague.com.
Photo - https://mma.prnasia.com/media2/2950147/Samsung_Galaxy_S26_Ultra_POV_at_SLS_DTLA_Takeover___2.jpg?p=medium600
Photo - https://mma.prnasia.com/media2/2950148/Samsung_Galaxy_S26_Ultra_POV_at_SLS_DTLA_Takeover___1.jpg?p=medium600
Photo - https://mma.prnasia.com/media2/2950149/Skaters__including_Jagger_Eaton__take_a_Victory_Selfie_with_the_Samsung_Galaxy_S26_Ultra_at_the_SLS.jpg?p=medium600
Logo - https://mma.prnasia.com/media2/2950146/Samsung_Logo.jpg?p=medium600
Capturing new angles like never before, Galaxy S26 Ultra's broadcast-ready capture transforms how skateboarding is filmed, experienced and delivered in real time
LOS ANGELES, April 6, 2026 /PRNewswire/ -- Samsung Electronics Co., Ltd., a global partner of Street League Skateboarding (SLS) today announced that Galaxy S26 Ultra was used to film live Street League Skateboarding (SLS) competition for the first time when it captured the SLS DTLA Takeover on April 4. Galaxy S26 Ultra's pro-grade camera redefines the role of mobile devices in sports, delivering a fresh visual experience of skateboarding that reflects the intensity of the sport itself.
Sports broadcasting is evolving, bringing fans closer to the experience by moving cameras closer to the action. Samsung is driving this shift with the Galaxy camera system and its ability to operate at broadcast-level performance through the pairing of connectivity and mobility. Earlier this year, Galaxy flagship device was used to stream Opening Ceremony of the Olympic Winter Games Milano Cortina 2026, where Samsung worked alongside Olympic Broadcasting Services (OBS) to embed Galaxy devices throughout the venue at one of the world's largest sports stages. The result was a new layer of visual storytelling, capturing dynamic perspectives that complemented traditional broadcast coverage. These capabilities extended to the Galaxy Unpacked 2026, showcasing its ability to deliver professional-grade video capture and transmission.
Now, Samsung is helping lead this transformation within skateboarding competitions by embedding Galaxy S26 Ultra directly into key course features — including rails, ledges and gaps — across the entire SLS 2026 season, fully scaling the Galaxy POV first introduced at the 2026 SLS Sydney stop.
"Mobile innovation is opening new possibilities for how sports are captured and experienced," said Joshua Cho, Executive Vice President and Head of the Visual Solution Team, Mobile eXperience (MX) Business at Samsung Electronics. "At Milano Cortina we demonstrated how Galaxy technology can complement traditional broadcast systems. With Street League Skateboarding, we're bringing that same approach directly into the course with our newest, most advanced device camera, and using mobile POV to capture skateboarding from entirely new perspectives."
Embedded throughout the course, the devices provide skater-level perspectives, offering angles that traditional broadcast systems often cannot capture. This footage feeds directly into the live production workflow, enabling near-instant replay and offering viewers a fresh visual experience that reflects the intensity of the sport itself.
From speed to the precision of every landing, skateboarding is defined by details that are often lost from a distance. With mobile cameras placed directly inside the course, Samsung is reimagining how the sport is experienced, bringing fans closer to each mid-air movement, board flip and landing. These new perspectives offer deeper insight into technique, timing and control, while strengthening the connection between fans, the sport and the athlete.
Featuring Samsung's most advanced mobile imaging system to date, Galaxy S26 Ultra is designed to perform in fast-moving, unpredictable environments, much like the athletes themselves. It delivers professional-grade camera performance and high-quality footage across a wide range of shooting conditions with enhanced stabilization, intelligent processing and the ability to maintain clarity in low-light or high-speed conditions. This allows it to operate alongside conventional cameras while maintaining clarity, stability and detail within spaces traditional broadcast cameras cannot easily access.
The placement of Galaxy S26 Ultra devices follows the rhythm and flow of each run, revealing the style, speed and precision of each trick from within the course itself. Galaxy features also extend the creative possibilities of production. Features such as Super Steady with horizontal lock stabilization help maintain smooth, level footage even during high-speed motion, while Instant Slow-Mo enables detailed replay of tricks as they happen. Together, these capabilities allow production teams to capture skateboarding with greater clarity, stability and proximity — showcasing the precision, style and technical skill behind every movement.
"Skateboarding is reaching more people than ever before, especially as the sport continues to grow on the global stage," said Brett Clarke, Chief Revenue Officer at Thrill Sports, the parent company of Street League Skateboarding. "Collaborations like the one we have with Samsung help us evolve how the sport is shared with fans while staying true to the creativity and culture that define skateboarding."
The debut of Galaxy S26 Ultra POV integration at the SLS DTLA Takeover signals where sports broadcasting is heading next. As the SLS Championship Tour continues, Samsung will continue exploring how mobile technology can evolve into versatile broadcast tools. Looking ahead to major global sporting events and the road to Los Angeles 2028, this shift suggests a future in which the boundary between smartphone camera and broadcast camera continues to disappear, bringing fans closer to the action.
About Samsung Electronics Co., Ltd.
Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, digital signage, smartphones, wearables, tablets, home appliances and network systems, as well as memory, system LSI and foundry. Samsung is also advancing medical imaging technologies, HVAC solutions and robotics, while creating innovative automotive and audio products through Harman. With its SmartThings ecosystem, open collaboration with partners, and integration of AI across its portfolio, Samsung delivers a seamless and intelligent connected experience. For the latest news, please visit the Samsung Newsroom at news.samsung.com.
About Street League Skateboarding
Since its inception in 2010, Street League Skateboarding (SLS) has propelled street skateboarding from a collection of independent standalone events to a renowned global series. As pioneers of street skateboarding's premium qualification system and competition format, SLS offers an amateur-to-professional pathway and creates thrilling live events across the globe. The SLS Championship Tour is recognized as the world's premier professional street skateboarding competition. Events take place on custom-built, one-of-a-kind, SLS-certified plazas in major cities around the world, with the best in the sport competing for the highest stakes. For more information, visit StreetLeague.com.
Photo - https://mma.prnasia.com/media2/2950147/Samsung_Galaxy_S26_Ultra_POV_at_SLS_DTLA_Takeover___2.jpg?p=medium600
Photo - https://mma.prnasia.com/media2/2950148/Samsung_Galaxy_S26_Ultra_POV_at_SLS_DTLA_Takeover___1.jpg?p=medium600
Photo - https://mma.prnasia.com/media2/2950149/Skaters__including_Jagger_Eaton__take_a_Victory_Selfie_with_the_Samsung_Galaxy_S26_Ultra_at_the_SLS.jpg?p=medium600
Logo - https://mma.prnasia.com/media2/2950146/Samsung_Logo.jpg?p=medium600
** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **
A New Era of Sports Broadcasting: Galaxy S26 Ultra Unlocks New Perspectives, Bringing Cameras Inside the Action
A New Era of Sports Broadcasting: Galaxy S26 Ultra Unlocks New Perspectives, Bringing Cameras Inside the Action
A New Era of Sports Broadcasting: Galaxy S26 Ultra Unlocks New Perspectives, Bringing Cameras Inside the Action
