The
Mesabi Iron Range is a vast deposit of iron ore and the largest of four major iron ranges in the region collectively known as the
Iron Range of
Minnesota. Discovered in 1866, it is the chief deposit of iron ore in the United States. The deposit is located in northeast Minnesota, largely in
Itasca and
Saint Louis counties. It was extensively worked in the earlier part of the 20th century. Extraction operations declined throughout the mid-1970s but rebounded in 2005. China's growing demand for iron, along with the falling value of the
U.S. dollar versus other world currencies, have made
taconite production profitable again, and some mines that had closed have been reopened, while current mines have been expanded.