Tom Clarke

Chief investor

Chippewa Capital Partners




Clarke is a curious, intriguing new player on the Iron Range. In the past year, this billionaire from Virginia (the state)—who made his money in health care, nursing homes and coal—has acquired the shuttered Magnetation taconite production complex near Grand Rapids and the former Essar Steel taconite facility in Nashwauk. His vision? Creating an ore powerhouse that makes traditional pellets for blast furnaces as well as specialized pellets for the electric-arc mini-mills that produce about two-thirds of American steel.