Yes , I think you will be okay with grinding the steel . There are many grinding wheel drill bits that will easily grind metal .
Here is a pic that is similar to what you need :

There are many different types of these wheel bits , it depends on the hardness of the stone as to it's use . You should be able to pick one up at a local hardware store , check the info on the package to make sure it will grind metal .
Hope this helps , Cheers Mike .
Mike Montgomery
Clan Montgomery Society , International
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