From Wikipedia:
To make molasses, the cane of a sugar plant is harvested and stripped of its leaves. Its juice is extracted usually by crushing or mashing, but also by cutting. The juice is boiled to concentrate it, which promotes the crystallization of the
sugar. The result of this first boiling and of the sugar crystals is
first molasses, which has the highest sugar content because comparatively little sugar has been extracted from the source.
Second molasses is created from a second boiling and sugar extraction, and has a slight bitter tinge to its taste.
The third boiling of the sugar syrup makes
blackstrap molasses. The term is an
Americanism dating from around 1920. The majority of sucrose from the original juice has been crystallized and removed. The calorie content of blackstrap molasses is still mostly from the small remaining sugar content.
[2] However, unlike refined sugars, it contains trace amounts of
vitamins and significant amounts of several
minerals. Blackstrap molasses is a source of
calcium,
magnesium,
potassium, and
iron; one tablespoon provides up to 20% of the daily value of each of those nutrients.
[3] Blackstrap has long been sold as a
health supplement. It is also used in the manufacture of
ethyl alcohol for industry and as an ingredient in
cattle feed.