A Thunder Bay man is one step closer to a setting up a huge iron ore processing plant in Atikokan. Henry Wetelainens' company, Bending Lake Iron, has received 335 million dollars in loan guarantees from New York investments banks for the project. All that is left is for the provincial government to give him approval to lease some land in Atikokan. During construction it could provide 700 jobs, with about 200 permanent jobs when the plant is up and running.