Taconite tailings are mostly the mineral quartz, which is chemically inert. This area produced a large quantity of the nation's iron and taconite ore. These processed taconite-ore pellets are also referred to as "taconite". The quarry produced about 850,000 tons of taconite pellets each year. Located to the north, U.S. Steel operates the Keewatin taconite or Keetac mines. It has had a significant taconite mining industry, particularly in the city of Virginia. United States Steel is also a minority stakeholder in Hibbing Taconite. Banded iron formations are known as "taconite" within North America. The community of Schroeder is immediately northeast of Taconite Harbor. The communities of Schroeder and Taconite Harbor are immediately southwest of Tofte. It is also known as "jasper taconite". In addition to the crew, of taconite sank along with the vessel. The taconite era on the Missabe had begun. Taconite became valued as a new source of the metal. United Taconite and MnDOT negotiated an agreement to move the roadway by 2017.