We present a high resolution X-ray spectrum of the iron K bandpass in MCG–6-30-15 based on a 522 ksec observation with Chandra ’ s High Energy Transmission Grating Spectrometer . The Chandra spectrum is consistent with the presence of a relativistically broadened , highly redshifted iron K \alpha emission line with a similar profile to previous observations . A number of narrow features are detected above 2 keV , including a narrow Fe K \alpha emission line and narrow absorption lines from H- and He-like Fe , H-like S and H-like Si . This absorption is well described by a photoionized plasma with a column density \log N _ { H } = 23.2 and an ionization parameter \log \xi = 3.6 , assuming the iron abundance has the Solar value and a velocity dispersion parameter b = 100 \hbox { $ { \thinspace km } { \thinspace s } ^ { -1 } $ } . Applying this absorption model to a high fidelity XMM-Newton EPIC-pn spectrum we find that a broad iron line is still required with emission extending to within 1.9 gravitational radii of the black hole . If the iron line comes from an accretion disk truncated at the innermost stable circular orbit , this indicates that the black hole must be spinning rapidly with a > 0.95 . Ionized absorption models attempting to explain the 3 - 6 { \thinspace keV } spectral curvature without strong gravity predict absorption lines in the 6.4 - 6.6 { \thinspace keV } range that are inconsistent with the Chandra spectrum . The H- and He-like iron absorption lines in the Chandra spectrum are blueshifted by 2.0 ^ { +0.7 } _ { -0.9 } \times 10 ^ { 3 } \hbox { $ { \thinspace km } { \thinspace s } ^ { -1 } % $ } compared to the source frame , and may originate in a high velocity , high ionization component of the warm absorber outflow . This high ionization component may dominate the energy budget of the outflow , and account for a significant fraction of the outflowing mass . Detailed modeling of the warm absorber below 2 keV will be addressed in a later paper , but our results are robust to the broader details of the warm absorber behavior . The difference spectrum between the high and low flux states is well described by a power law , in agreement with previous studies .