Lourenco Goncalves was the keynote speaker at Great Designs in Steel Symposium (GDIS)™ sponsored by AISI. Mr. Goncalves’ speech was entitled "The Importance of Automotive Manufacturing in the United States."
Cleveland-Cliffs is a major sponsor of the conference. This year, GDIS grew to over 1,500 attendees, representing various automotive OEMs. Cleveland-Cliffs exhibited its automotive solutions at the conference.
CEO Barry Zekelman of Zekelman Industries was interviewed on steel and aluminum tariffs on "Mornings with Maria" on Fox Business. You can watch the video at the link below.
President Donald Trump commented on Truth Social about Chairman, President & CEO's interview about steel tariffs on CNBC's Squawk on the Street. Visit Truth Social to read the entire comment.
Vivek Ramaswamy, who is expected to launch a gubernatorial bid for Ohio governor, meets with Lourenco Goncalves, Chairman and CEO of Cleveland-Cliffs.
Cleveland-Cliffs hosted Acting Secretary of Labor Julie Su and Assistant Secretary for Mine Health and Safety Chris Williamson at its Tilden Mine in Negaunee MI.
After taking a tour of the open-pit iron ore mine, the visitors joined Chief Operating Officer Cliff Smith, Chief Financial Officer Celso Goncalves, union and business leaders, mine workers and safety experts for a roundtable discussion on how federal investments and policies promote "Made In America" products and good jobs in U.S. manufacturers’ steel supply chains. During the roundtable, participants discussed the essential contributions of Michigan miners to the U.S. manufacturing economy.
Cleveland-Cliffs hosted United States Trade Representative (USTR) Katherine Tai, Acting Secretary of Labor Julie Su, Congresswoman Chrissy Houlahan, together with the Director of District 10 of the United Steelworkers (USW) Bernie Hall, at its Coatesville, PA mill. This visit followed USTR’s recent final determination relating to increased Section 301 tariffs on imports of steel, electric vehicles and various manufacturing components from China. The press conference can be viewed on Cleveland-Cliffs' YouTube channel, available below.
Pictured (L-R): Congresswoman Chrissy Houlahan, United States Trade Representative (USTR) Katherine Tai, Lourenco Goncalves, Chairman, President & CEO of Cleveland-Cliffs, USW Director District 10 Bernie Hall, and Acting Secretary of Labor Julie Su.
Cleveland-Cliffs sponsored and funded three newly designed basketball courts at Moon Park in Pittsburgh, PA. The Moon Park project creates a great environment for basketball enthusiasts and for local youth and community members to gather and play. The Cleveland Cavaliers collaborated with Pittsburgh-based muralist and artist Kyle Holbrook on the design and paint execution of the basketball courts.
The CLIFFS+CAVS partnership focuses on using the power of sports to unite people and creating positive change in the communities where they operate. In addition to this community-based effort, the CLIFFS+CAVS partnership includes the annual “Bigger Than Basketball” program which provides resources to underprivileged youth via local Boys & Girls Club.
Lourenco Goncalves, Cleveland-Cliffs’ Chairman, President and Chief Executive Officer, recently hosted a press conference at the company’s Cleveland Works plant in Ohio. Participants included Senator Sherrod Brown (OH) and leadership from the United Steelworkers, David McCall, International President and Donnie Blatt, Director of USW District 1. Senator Brown’s visit followed recent bipartisan legislation introduced to stop the dramatic increase in Mexican steel imports. The Stop Mexico’s Steel Surge Act reinstates the 232 tariffs on Mexican steel imports at 25 percent, for no less than a year, and gives the President of the United States the authority to impose additional quotas and tariff rate quotas on specific products if necessary.
The press conference is available on Cleveland-Cliffs' YouTube channel, below.
Cleveland-Cliffs hosted U.S. Secretary of Transportation Pete Buttigieg, Pennsylvania Governor Josh Shapiro, and other state and local government officials at its Steelton mill in Pennsylvania. Steelton is the oldest continually operating steel mill in the United States and is a leading producer of rail and other steel products that support critical infrastructure and national security.
An on-demand version of the press conference is available on YouTube
At the American Iron and Steel Institute (AISI) General Meeting, Lourenco Goncalves, AISI Chairman and the Chairman, President and Chief Executive Officer of Cleveland-Cliffs Inc. presented the 2024 Institute Finalist Medal to the Cleveland-Cliffs' team. Among the highest technical awards offered by the association, this award recognizes technical papers with special merit and importance to the American Iron and Steel industry. The Cleveland-Cliffs team collaborated on a study of the use of HBI in the Company’s EAF and AOD operations.
Learn more from the AISI News Release
Cliffs hosted DOE Secretary Jennifer Granholm at its Butler Works plant in Pennsylvania. The Secretary’s visit followed the recent DOE final transformer efficiency standard rule providing for the continued utilization of Grain-Oriented Electrical Steel (GOES) in virtually all of electrical distribution transformer end markets. Cleveland-Cliffs is the sole producer of GOES in the United States, and was selected for award negotiations for up to $75 million in total funding from the DOE to pursue a decarbonization investment at Butler Works.
During the visit, Secretary Granholm toured the plant and met with Cleveland-Cliffs’ Chairman, President and Chief Executive Officer Lourenco Goncalves, company officials, employees as well as union leaders from the United Auto Workers (UAW), the United Steelworkers (USW) and the International Association of Machinists (IAM).
Mr. Goncalves hosted a speaking program with Secretary Granholm and other invited speakers that was live streamed on the Company’s YouTube channel. The on-demand version of the program is below.
Cleveland-Cliffs Butler Works hosted Pennsylvania Governor Josh Shapiro to celebrate the final U.S. Department of Energy rulemaking that preserved the use of Grain-Oriented Electrical Steel in the manufacturing of transformers. Cleveland-Cliffs Chairman, President & CEO Lourenco Goncalves held a joint press conference with the governor, along with UAW Local 3303 President Jamie Sychak, Butler County Commissioner Kevin Boozel, and other UAW workers.
“Cleveland-Cliffs’ Butler Works produces Grain Oriented Electrical Steel (GOES) and GOES sustains the American electric grid, directly supporting both U.S. national and economic security,” said Mr. Goncalves during his remarks, “Without GOES, we cannot have a reliable electric grid in the United States. In its final rule, the U.S. Department of Energy acknowledged the critical role of domestically-produced, highly-efficient GOES and incorporated changes that will provide for continued utilization of GOES in the vast majority of distribution transformers. Cleveland-Cliffs is grateful for the leadership of Governor Shapiro, who demanded that the DOE modify the rule to keep the integrity of the grid in our country, preserve 1,300 United Auto Worker jobs, and allow Cleveland-Cliffs to make transformational investments that will ensure a bright future for Butler Works, its UAW workforce, and the Butler community.”
You can read more about the press conference from the PA Governor news release and listen to the speakers’ remarks online.
Cleveland-Cliffs hosted U.S. Senator Sherrod Brown (D-OH) at its Cleveland Works Operation to speak against the potential sale of U.S. Steel to Nippon Steel. Sen. Brown, along with Cleveland-Cliffs Chairman, President & CEO Lourenco Goncalves, discussed their concerns about the impact of the sale on the health of the U.S. steel industry. Brown also toured the Cleveland-Cliffs Cleveland Works steel mill, met with workers, and discussed how to further support Ohio steelworkers.
Pictured (L to R): Donnie Blatt, USW Director – District 1, Lourenco Goncalves, Cleveland-Cliffs Chairman, President & CEO, and Sen. Sherrod Brown (D-OH)
Cleveland-Cliffs hosted Department of Energy (DOE) Secretary Jennifer Granholm at its Middletown Works operation, where she held a press conference on newly-announced federal funding for U.S. industrial decarbonization projects. Two of Cleveland-Cliffs' projects have been selected for award negotiations for up to $575 million in total funding from the United States Department of Energy (DOE) to pursue two decarbonization investments at Middletown Works in Ohio and Butler Works in Pennsylvania.
Following successful negotiations, these projects will allow for substantial reductions in greenhouse gas (GHG) emissions across the Cliffs’ footprint and will also create efficiencies that meaningfully drive down operating costs while securing and growing good-paying Union jobs. This federal funding is being made available through DOE’s Industrial Demonstrations Program funded through the Infrastructure Investment and Jobs Act and the Inflation Reduction Act; more information on the program can be found on the DOE website.
More information on the Middletown Works and Butler Works projects are available at the news release link below.
Pictured (left to right) Donnie Blatt, USW--District 1 Director; Lourenco Goncalves, Cleveland-Cliffs Chairman, President and CEO; Sec. Jennifer Granholm, Department of Energy; Jamie Sychak, President, UAW Local 3303; and Shawn Coffey, IAM Union President.
Cleveland-Cliffs is the official steel partner for Indycar racing organization Meyer Shank Racing, and, this year, is now serving as primary sponsor of Helio Castroneves’ No. 06 MSR Indy car entry effort in addition to its presence on both full-season entries of Tom Blomqvist and Felix Rosenqvist.
Castroneves looks to once again make history in the No. 06 Cleveland-Cliffs Indy car and become the first driver in NTT INDYCAR SERIES history to win five Indianapolis 500s. Castroneves scored a record-tying fourth Indianapolis 500 victory with MSR in 202. The Brazilian racer joined AJ Foyt, Al Unser Sr. and Rick Mears as the only drivers in history to win the 500 four times.
“Cleveland-Cliffs is proud to partner with Meyer Shank Racing and Helio Castroneves as the team seeks Helio’s record setting fifth victory of the iconic American race," said Cleveland-Cliffs Chairman, President & CEO Lourenco Goncalves,"The racing world sets its eyes on Indiana every May for the Indianapolis 500 and having Helio drive the No. 6 Cleveland-Cliffs car will be an exciting moment for our Cliffs team members. The Indy 500 and steel have a long tradition in the state. Indiana is the largest steel producing state in the nation and we are proud to have over 9,000 employees in Indiana producing the best steel in the world. With Meyer Shank Racing, we celebrate teamwork, determination and hopefully soon a record setting fifth Indy 500 win for Helio.”
More exciting race action is available on MSR's website.
The Alliance of American Manufacturing (AAM), with the support of the United Steelworkers, recently produced "Relighting the Flame," a documentary film highlighting how America's new generation of modern steelworkers are thriving and growing the steel industry in the United States.
Cleveland-Cliffs is featured in the movie, which showcases Cliffs employees -- and their families -- from Burns Harbor, Cleveland Works and the Research and Innovation Center. You can watch the film premiere on AAM's YouTube page.
In a letter to EPA Administrator Michael Regan, Brown and colleagues call on EPA to reject the proposed regulations as currently written in the interest of American national and economic security and work with labor and industry to overhaul them in a way that protects American steelworkers.
The letter is available on Sen. Brown's website.
Cleveland-Cliffs' Toledo DR Plant was featured in the Department of Energy's (DOE) "Better Climate Challenge Roadshow," which highlights how organizations across sectors are reducing carbon emissions. In the episode, DOE energy experts highlight how Cleveland-Cliffs is leveraging its state-of-the-art Direct Reduction facility in Toledo, Ohio, and utilizing other technologies to decarbonize its steelmaking operations.
You can read more about the program in our news release. Cleveland-Cliffs' episode is watchable on YouTube at the link below.
As part of a federal initiative to reduce carbon emissions and progress toward net-zero emissions by 2050, the DOE awarded $9.96 million to a CIVS project pioneering an industry-scale demonstration of a hydrogen-fired continuous reheating furnace operation. Cleveland-Cliffs is a partner in the project.
Senators Sherrod Brown (D-OH) and Joe Manchin (D-WV) met with Cleveland-Cliffs CEO Lourenco Goncalves to tour Cleveland-Cliffs Weirton tin mill in Weirton, WV. Both senators have supported Cliffs’ and the USW’s antidumping petitions against unfairly traded foreign tin and chromium coated sheet products in the U.S. market, which have adversely affected domestic operations.
“The visit by Senator Brown and Senator Manchin to Cleveland-Cliffs Weirton is a clear demonstration that the United States will not forfeit its ability to produce tin plate,” said Lourenco Goncalves. “Today, the Senators witnessed firsthand the ability of Cleveland-Cliffs and its USW workforce to produce the high-quality tin mill products that the U.S. market demands. All we require is the ability to compete in a market free from the threat of dumped and subsidized imports. With the strong support of influential elected leaders like Senator Manchin and Senator Brown, I know we will prevail in addressing unfairly traded imports and ensuring a bright future for Weirton and its workers.“
View press releases on the event from Senator Brown and Senator Manchin.
View video of the event’s press conference.
Cleveland-Cliffs Indiana Harbor steelmaking facility has the largest blast furnace in the Americas. The blast furnace operates at the lowest coke rate in the world.
Lourenco Goncalves, Chairman, President and CEO is pictured here with some members of the Cleveland-Cliffs Board of Directors, Executive Management and Indiana Harbor local management.
An archived version of Cleveland-Cliffs May 17 Annual Meeting of Shareholders is available at the link below.
The American Iron and Steel Institute’s (AISI) Board of Directors has elected Lourenco Goncalves, chairman, president and CEO of Cleveland-Cliffs, Inc., to serve as chairman of the Institute for a two-year term. The election and announcement took place at AISI’s General Meeting at the InterContinental Hotel-The Wharf in Washington, D.C. AISI also announced that Luca Zanotti, president of Tenaris USA, was elected as a new director on the AISI board; and Leon Topalian, chair, president and CEO of Nucor and former AISI chairman, was elected vice-chairman.
The Great Lakes Clean Hydrogen Hub coalition (GLCH) has submitted a full application for federal funding from the $8 billion U.S. Department of Energy (DOE) program to support the creation of regional clean hydrogen hubs under the Infrastructure Investment and Jobs Act. GLCH's full application details a $2 billion plan to create a clean hydrogen hub to serve Ohio, Michigan, and portions of Pennsylvania and Indiana. The proposed hub will use carbon-free nuclear power to produce clean hydrogen at a competitive cost. It has a well-defined scope, is commercially feasible, and will utilize proven production technologies to minimize the time required to achieve full production of 100+ metric tonnes of hydrogen per day.
GLCH is led by Linde (NYSE: LIN), as the prime applicant, and includes Cleveland-Cliffs, Energy Harbor, GE Aerospace, the University of Toledo, and the Glass Manufacturing Industry Council.
The Great Lakes Clean Hydrogen coalition (GLCH) today announced it has received encouragement from the U.S. Department of Energy (DOE) to proceed with the development and submittal of their full hydrogen hub application. The coalition, which is led by Linde (NYSE: LIN; FWB: LIN), Energy Harbor, Cleveland-Cliffs Inc. (NYSE: CLF), GE Aerospace and the University of Toledo, along with the Glass Manufacturing Industry Council (GMIC), was among 79 organizations submitting concept papers to the DOE for development consideration. The proposal, by GLCH, was selected as one of 33 projects encouraged to proceed to the full application process.
Cleveland-Cliffs and Cleveland Cavaliers Team Up on "Bigger than Basketball" Community Tour
On Nov. 1, Cleveland-Cliffs and the Cavs launched their "Bigger Than Basketball" Community Tour that will visit five Ohio communities during the 2022-23 NBA season. The new initiative will focus on providing resources for underserved youth in each community by teaming up with local agencies to help identify specific needs, such as clothing, food security and recreation. Each visit on the tour will also include Cavs fun with basketball youth clinics for participating kids and appearances from Cavs entertainments teams.
The first stop for the Bigger Than Basketball tour was Mansfield, Ohio where the Cavs and Cliffs partnered with The New Store, Friendly House and Children’s Hunger Alliance of Richland County.
The second event of the day took place at the Friendly House, a community center that provides after school programming for the immediate neighborhood and the community. The 100 youth in attendance at the Friendly House also received winter coats, courtesy of The New Store, Cavs/Cliffs hats and a meal from Children’s Hunger Alliance. As part of the fun festivities, the kids were treated to a Cavs Academy Basketball Clinic, a PowerHouse Dance Clinic and a special appearance by Cavs mascot Sir CC.
WEC Energy Group and EPRI announced the successful demonstration of blending hydrogen in a natural gas generator. The project is the first hydrogen power test of a utility-scale, grid-connected reciprocating engine generator in the world. Cleveland-Cliffs, the primary user of the power generated by the test unit, provided cooperation and support in furtherment of the energy project.
EPRI will share results of the project in early 2023 to further inform the energy industry on ways to successfully use hydrogen for RICE power generation to support reducing carbon emissions.
Cleveland-Cliffs President, Chairman and CEO Lourenco Goncalves recently discussed the company's earnings results with Fox Business host Liz Claman and provided his outlook for the steel industry on 'The Claman Countdown.'
On October 3, Cleveland-Cliffs' Chairman, President and CEO, Lourenco Goncalves, met with U.S. Secretary of Energy, Jennifer Granholm. Mr. Goncalves and Secretary Granholm discussed Cleveland-Cliffs' existing technical partnerships with the Department of Energy (DOE) and the role of Cleveland-Cliffs in enabling the continued decarbonization of the American economy. Cleveland-Cliffs is the only American steel producer participating in the DOE Better Climate Challenge initiative and is the largest industrial energy user in the Better Plants program.
On September 19, Cleveland-Cliffs’ Chairman, President and CEO Lourenco Goncalves met with Indiana Governor Eric Holcomb. Cleveland-Cliffs employs 8,300 individuals in the state of Indiana across Indiana Harbor, Burns Harbor, Tek/Kote, Rockport Works and Columbus Tubular Components.
Mr. Goncalves and Governor Holcomb discussed the role of Cleveland-Cliffs in enabling electrification of the American vehicle fleet and opportunities the electrification revolution presents for Indiana and the entire Midwest region.
Cleveland-Cliffs and the United Steelworkers partnered to host Transportation Secretary Pete Buttigieg, GSA Administrator Robin Carnahan, and White House Deputy National Climate Advisor Ali Zaidi at its Toledo Direct Reduction plant. These senior administration officials announced initiatives to promote clean manufacturing and efforts to reduce greenhouse gas emissions.
Secretary Buttigieg recognized Cleveland-Cliffs’ leadership in the steel industry for its transformative investments in carbon efficient steelmaking. The Company is using the hot-briquetted iron produced in Toledo across all of its integrated blast furnace/basic oxygen furnace steel mills and electric arc furnace steel mills to significantly reduce GHG emissions.
A new industry-led coalition, Great Lakes Clean Hydrogen (GLCH), has been formed as a coordinated hydrogen hub effort to transition the Midwest into a leading low-carbon fuel production center, attracting major investment, new businesses and job creation.
The coalition of industry, academic, federal laboratories and non-profit organizations will help manufacturing, aviation, transportation and power-generation industries reduce their carbon emission footprint. GLCH will pursue funding from the U.S. Department of Energy’s (DOE) $8 billion regional clean hydrogen hub initiative.
The GLCH-proposed projects will advance commercial deployment of hydrogen in a variety of transportation and industrial applications in the Midwest.
Cleveland-Cliffs and the United Steelworkers have reached tentative labor agreements for its employees.
On August 27, the Company announced a tentative agreement for a 4-year labor contract, covering 12,000 USW-represented employees across operations in Indiana, Pennsylvania, Ohio, Illinois, West Virginia and Minnesota.
On September 9, the Company announced a tentative agreement for a 47-month labor contract, covering 2,000 USW-represented employees across the Company's legacy Mining and Pelletizing Operations.
With the successful conclusion of the second and final portion of this negotiation with the USW, the Company has now reached two tentative multi-year labor agreements covering approximately 14,000 USW-represented employees, more than half of its total workforce.
Each agreement is now pending ratification by USW local union memberships. No further details will be provided by the Company prior to ratification.
Secretary Jennifer Granholm, U.S. Department of Energy, and U.S. Congresswoman Marcy Kaptur toured our state-of-the-art Direct Reduction plant in Toledo, Ohio to learn about how Cleveland-Cliffs is using hot briquetted iron to reduce greenhouse gas emissions across our steelmaking operations.
Jim Cramer interviewed Chairman, President & CEO Lourenco Goncalves on the Jul. 25 episode of "Mad Money."
A segment of the interview is available on CNBC's website. A full interview is also available for CNBC Pro subscribers.
Cleveland-Cliffs CEO Lourenco Goncalves provided testimony to the Congressional Steel Caucus during its 2022 State of Steel Hearing in Washington, DC. Mr. Goncalves was one of many steel executives discussing the state of the steel industry and key steel industry policy priorities for Congress and the administration.
The hearing was hosted by Steel Caucus Co-Chairmen Reps. Frank Mrvan (D-IN) and Conor Lamb (D-PA) and Vice-Chairmen Reps. Mike Bost (R-IL) and Rick Crawford (R-AR). Numerous other members of the Steel Caucus attended in support of the steel industry in their congressional districts, including: Reps. Pete Stauber (R-MN), Troy Balderson (R-OH), Jack Bergman (R-MI), Dan Bishop (R-NC), Steve Chabot (R-OH), Debbie Dingell (D-MI), John Garamendi (D-CA), Michael Guest (R-MS), Mike Kelly (R-PA) and Blake Moore (R-UT).
An archived version of the hearing can be watched on the American Iron and Steel Institute's YouTube page.
Cleveland-Cliffs Middletown Works in Ohio is investing in the next wave of workers in a very unique way. The Maintenance Apprenticeship Training Program is developed and taught by IAM Local 1943 members, on-site at the mill. The program takes each student about 18 to 20 months to complete, after which the apprentice will be a certified journeyman maintenance mechanic.
Cleveland-Cliffs Chairman, President & CEO Lourenco Goncalves spoke with Fortune CEO Alan Murray about Cliffs' ranking of #171 on the 2022 Fortune 500 List. Mr. Goncalves discusses the steel industry, the acquisitions that propelled Cliffs into the Fortune 500, and the role he expects Cliffs to play into the transforming automotive industry. The video interview is available on Cleveland-Cliffs' YouTube Channel.
Cleveland-Cliffs CEO Lourenco Goncalves was recently interview by Liz Claman on the Fox Business show "The Claman Countdown." Mr. Goncalves discussed the milestone of the Company's 175th anniversary this year. You can view the interview on Fox Business, accessible via the link below.
Presented by our USW members at Tilden Mine. William Austin Burt stumbled upon Michigan’s iron ore deposits in 1844. Ever since, mining has been the backbone of Michigan's Upper Peninsula. Iron ore mining has a deep history and a bright future.
Cleveland-Cliffs representatives rang the closing bell at the New York Stock Exchange to celebrate the Company's 175th anniversary this year. An archived version of the bell ringing is available on NYSE’s Closing Bell Vimeo Page, accessible via the link below.
Cleveland-Cliffs Chairman, President and CEO Lourenco Goncalves recently joined ‘Squawk Box’ to break down the company’s first-quarter earnings report, which crushed Wall Street’s earnings estimates.
Sen. Rob Portman (R, Ohio) recently met with Cliff Smith, Cliffs' executive vice president and president, Cleveland-Cliffs Steel, for a tour of the Company's direct reduction plant in Toledo, OH. Sen. Portman, who will retire from the Senate when his current term expires at year’s end, continues to promote legislation that will give domestic steelmakers “a fairer shake and a more level playing field”. The DR Plant is an important part of Cliffs' sustainability initatives, as producing and using HBI for its own steelmaking operations contributes to the Company's greenhouse gas reduction initiatives.
Cleveland-Cliffs CEO Lourenco Goncalves and U.S. Rep Frank Mrvan (D-Highland) recently held a news conference and tour at the Indiana Harbor Works steel mill in East Chicago, North America’s largest steelmaking complex. They discussed the importance of supporting the domestic steel industry and the benefits of investing in the American steel worker. Mrvan, co-chair of the Congressional Steel Caucus, is an advocate of strong trade policy that levels the playing field for manufacturing in America.
Cleveland-Cliffs Inc. took top honors in three categories at the Annual S&P Global Platts Global Metals Award ceremony in London, England on October 14. Lourenco Goncalves was awarded CEO/Chairperson of the Year. Cleveland-Cliffs was named Metals Company of the Year and the company received the Deal of the Year award.
Cleveland-Cliffs CEO Lourenco Goncalves hosted Sen. Sherrod Brown (D-OH) and USW District 1 Sub-District Director Patrick Gallagher at the Direct Reduction Plant in Toledo, OH. The senator toured the facility and discussed the Buy America protections he had secured in the bipartisan infrastructure plan, which will ensure American taxpayer dollars are used to purchase American-made products for all federally funded infrastructure projects.
Cleveland-Cliffs CEO Lourenco Goncalves hosted a group of legislators from Minnesota -- Rep. Dave Lislegard, Rep. Julie Sandstede, Rep. Jamie Long, Rep. Zack Stephenson and Ida Rukavina, Executive Director, Range Association of Municipalities and Schools -- at the Direct Reduction Plant in Toledo, OH. The legislators toured the plant and learned about how iron ore pellets from Northshore Mining in Minnesota are being utilized to produce Hot Briquetted Iron and reduce GHG emissions in the steelmaking process. Minnesota’s natural resources are key to clean steel production in the United States.
“Demand is relentless,” Cleveland Cliffs CEO Lourenco Goncalves tells ‘Closing Bell.’ He expects any infrastructure bill passed by Congress will boost the steel industry even more than it’s already been this year. “We will continue to work to reward our shareholders,” he adds.
Cleveland-Cliffs Inc. was named GM Supplier of the Year by General Motors during a virtual ceremony honoring the recipients of the company’s 29th annual Supplier of the Year Awards on Tuesday, June 22, 2021. This is the fourth consecutive year Cleveland-Cliffs/AK Steel has received the award.
GM recognized its best suppliers from 16 countries for their performance in the 2020 calendar year. The annual awards highlight global suppliers that distinguish themselves by exceeding GM’s requirements, in turn providing GM customers with innovative technologies and among the highest quality in the automotive industry.
Cleveland-Cliffs Inc. celebrated the initial six months of continued operation and production of hot-briquetted iron (HBI) at the Company’s state-of-the art Direct Reduction plant in Toledo, Ohio. Cliffs’ Chairman, President and Chief Executive Officer Lourenco Goncalves hosted Ohio Governor Mike DeWine for a ribbon cutting ceremony on site. The plant employs nearly 160 employees.
Cleveland-Cliffs CEO Lourenco Goncalves joined Jim Cramer on “Mad Money” to discuss a range of topics impact the steelmaking industry, including infrastructure proposals being made in Washington.
Cleveland-Cliffs CEO Lourenco Goncalves discusses the impact of President Biden's infrastructure bill on different industries and his outlook for the steel sector on Fox Business.
Cleveland-Cliffs Inc. (NYSE: CLF) announced that its philanthropic organization, The Cleveland-Cliffs Foundation, has made several commitments totaling more than $1 million in cash contributions to several food distribution organizations in the local communities where the Company operates throughout the United States and Canada. The Foundation plans to distribute the majority of its funding immediately.
Cleveland-Cliffs is collaborating with 44 food distribution organizations in over 35 communities across the United States – in Ohio, Alabama, Kentucky, Illinois, Indiana, Michigan, Minnesota, North Carolina, Pennsylvania, and West Virginia – as well as in the Province of Ontario, in Canada. The Company’s total contribution is estimated to provide up to 10 million meals, which is based on guidance from hunger-relief organizations in the United States.
Cleveland-Cliffs Inc. announced that it has successfully completed the acquisition of substantially all of the operations of ArcelorMittal USA LLC and its subsidiaries (“ArcelorMittal USA”), forming the largest flat-rolled steel producer in North America. On a full-year 2019 basis, the combined Company generated pro-forma revenues of approximately $17 billion and combined adjusted EBITDA of approximately $1.7 billion, including previously disclosed expected synergies.
In connection with the acquisition of ArcelorMittal USA, which includes the interests of ArcelorMittal USA of 60% in I/N Tek L.P. and 50% in I/N Kote L.P., Cleveland-Cliffs also acquired Nippon Steel Corporation’s remaining interests of 50% in I/N Kote and 40% in I/N Tek, for a total consideration of approximately $183 million. With this additional transaction, Cleveland-Cliffs becomes the sole owner of 100% of I/N Tek and I/N Kote, which generated a combined $121 million of adjusted EBITDA in 2019.
Lourenco Goncalves shares his thoughts about how the United States is the benchmark of the world in all things steel including having the greenest emissions profile amongst all major steelmaking nations.
AK Steel, a wholly-owned subsidiary of Cleveland-Cliffs (NYSE: CLF), was named GM Supplier of the Year by General Motors for Raw Materials during a virtual ceremony honoring the recipients of the company’s 28th annual Supplier of the Year awards on Wednesday, Jun. 24, 2020.
GM’s Supplier of the Year award is reserved for suppliers who distinguish themselves by meeting performance metrics for quality, execution, innovation, and total enterprise cost. AK Steel produces a unique product mix of carbon, stainless and electrical steel products for automotive solutions and this is the third consecutive year that the business has received the award.
You can read the complete press release about the award in the "News" section of our website.
Cleveland-Cliffs praised the U.S. Department of Commerce’s self-initiation of an urgent Section 232 investigation covering laminations for stacked transformer cores, stacked and wound transformer cores, electrical transformers, and transformer regulators.
Cliffs CEO Lourenco Goncalves said, “We are confident that this self-initiated investigation will reinforce the critical nature of ensuring a reliable domestic supply of GOES to support electric power distribution, and will address the circumvention of national security tariffs involving transformer laminations and cores of GOES. Cleveland-Cliffs greatly appreciates the bipartisan leadership of Senator Rob Portman, Senator Bob Casey, Senator Sherrod Brown, Congressman Mike Kelly, Congressman Troy Balderson, Congresswoman Marcy Kaptur and other Congressional leaders who helped facilitate this path forward, as well as the great support from our Union partners with the United Auto Workers. The integrity of America’s electric grid and over 1,400 family-sustaining jobs at AK Steel’s Butler Works in Pennsylvania and Zanesville Works in Ohio depend on speedy resolution of this investigation.”
U.S. Representatives Mike Kelly (R-Pa.), Marcy Kaptur (D-Ohio) and Troy Balderson (R-Ohio) were joined by a bipartisan group of lawmakers to urge President Trump to address the unfair trade practices that are threatening AK Steel’s electrical steel business. AK Steel, a wholly-owned subsidiary of Cleveland-Cliffs, is the last remaining producer of electrical steel in North America.
In the letter, the Representatives expressed concern that some bad actors are intentionally avoiding national security tariffs imposed on imports of grain-oriented electrical steel under Section 232. Cleveland-Cliffs CEO Lourenco Goncalves made clear to Secretary of Commerce, Wilbur Ross, that unless this circumvention is immediately addressed, the company will have no choice but to close AK Steel plants in Butler, PA and Zanesville, OH, which threatens more than 1,500 jobs and the security of America’s power grid.
The press release and letter can be read on U.S. Representative Kelly's website
Cleveland-Cliffs Chairman, President and CEO Lourenco Goncalves was one of several executives who delivered testimony to the Congressional Steel Caucus today, impressing the need for a U.S. infrastructure plan and continued enforcement of trade policies to protect the American steel industry.
His testimony, as well as the testimonies of other participants, can be found on the website of the American Iron and Steel Institute.
Lourenco Goncalves, Chairman, President and CEO of Cleveland-Cliffs, was interviewed live on CNBC's "Closing Bell" on October 23. He discussed the effect of China on the global economy, the steel tariffs and the importance of U.S. manufacturing.
The interview can be watched on Cleveland-Cliffs’s YouTube channel.
Cliffs Chairman, President and CEO Lourenco Goncalves recently traveled to Washington D.C. to meet with Dr. Peter Navarro, Assistant to the President and Director of the Office of Trade and Manufacturing Policy.
During the meeting at the White House, Mr. Goncalves and Dr. Navarro discussed the trade distortion caused by China’s polluting steel industry, as well as Cleveland-Cliffs’ investment of more than $1 billion to produce DR-grade pellets in Minnesota and HBI in Toledo, Ohio.
Cleveland-Cliffs held its ribbon-cutting ceremony for its expansion at Northshore Mining in Silver Bay, Minnesota on August 6.
Cliffs is celebrating the startup of the new production equipment, including supporting infrastructure, which was completed on schedule and within a total investment budget of $100 million. The Company invested in upgrading the concentrator building, a new scavenger building, new conveyor systems, a limestone tank and a steam generating plant to support large-scale commercial production of DR-grade pellets.
Cleveland-Cliffs broke ground for the project in March 2018, and the execution of the project concluded after nearly 500,000 labor hours of work. The project employed 150 people at peak construction, which included management, craft and labor.
Northshore Mining is now the only U.S.-based iron ore processing facility to produce low silica DR-grade pellets. The Northshore operation is producing DR-grade pellet feedstock inventory for Cliffs’ Hot Briquetted Iron Plant in Toledo, OH, which will be commissioned in mid-2020.
Cleveland-Cliffs CEO Lourenco Goncalves joined CNBC's "Closing Bell" on Friday, July 19 to discuss his company's recent earnings beat and his take on President Trump's head-to-head with China.
The interview is available on CNBC’s “Closing Bell” page.
Cliffs Chairman, President and CEO Lourenco Goncalves was interviewed as part of a CBS 3 Duluth "Eye on Mining" feature on the DR-pellet project underway at Northshore Mining. When the project is completed in mid-2019, Northshore will be able to produce up to 3.5 million long tons of DR-grade pellets. It will be the only facility in the United States capable of producing both DR-grade and regular blast furnace iron ore pellets.
You can watch the interview on CBS 3 Duluth’s website.
Cliffs Natural Resources held a groundbreaking ceremony at United Taconite to celebrate the future production of a superflux Mustang pellet for the Company’s largest customer, ArcelorMittal. Cliffs is investing in building new assets to support the customized iron ore pellet, including a storage facility, new silos, a limestone crusher and new conveyors.
The project will take approximately eight months and involve an estimated 200,000 hours of labor during construction. Cliffs is on track to deliver the Mustang pellets to ArcelorMittal starting next year.
Shown in the picture (l-r): UTAC General Manager Santi Romani, Congressman Rick Nolan, Cliffs Chairman, President & CEO Lourenco Goncalves, Minnesota Governor Mark Dayton, USW Local 6860 President Brian Zarn, and EVP, USIO Terry Fedor.
Despite China signaling moves to cut its excess steel production capacity, industry chiefs say the country has declared a metals "war" that has had a "devastating" impact for the rest of the world's industry. Cliffs CEO, Lourenco Goncalves, explains to CNBC why it's time to take action on the glut in the steel market.
Watch the interview on CNBC.
Cliffs CEO Lourenco Goncalves joined executives from six steel giants as a panelist for AISTech's Town Hall Forum as part of a weeklong conference sponsored by the Association for Iron and Steel Technology. During "Steel's Resolve: Overcoming the Excess," the executives explored the challenges — and discussed the opportunities — that lie ahead for the domestic steel industry. The global steel industry was challenged by excess capacity, excess production and excess imports in 2015. Despite a recovering construction market and a record year for auto sales, the headwinds buffeted steel producers.
Learn more about the conference and these issues at AIST’s website. You can also watch the town hall forum online -- registration is required to view the video.
Minnesota Sen Amy Klobuchar met with workers and company leadership at Cliffs’ Northshore Mining, which was recently reopened after having been idled in December. Klobuchar toured the facility and met with workers now back on the job. More than 400 workers at Cliffs Natural Resources ‘ Northshore Mining are back to work this week – Northshore’s facilities in Silver Bay and Babbitt are expected to be fully staffed by early next week.