Hibbing Taconite Company is a mining company located in Hibbing, Minnesota. It primarily focuses on the extraction and processing of iron ore, specifically taconite, which is a low-grade iron ore. The company plays a significant role in the local economy by providing jobs and supporting various industries in the region. Established in 1976, Hibbing Taconite operates a large open-pit mine and a processing facility. The iron ore produced is essential for the production of steel, making the company an important player in the U.S. steel industry. Hibbing Taconite is a joint venture involving several major companies, contributing to the overall supply of iron ore in the country.