Magnetation LLC expects to emerge from bankruptcy sometime during the middle of the year, said Matt Lehtinen, the company’s CFO, the Grand Rapids (Minn.) Herald Review reported today. Magnetation, LLC last May filed for chapter 11 protection to restructure financially amid a tough global iron ore and steel marketplace. The company, which recovers iron ore concentrate from taconite waste tailings, secured $135 million in financing from certain holders of senior secured notes to implement a restructuring as part of the chapter 11 filing.
