Cleveland-Cliffs Inc

Mar. 13 -- Cleveland-Cliffs Inc. Completes Acquisition of AK Steel

Cleveland-Cliffs Inc. announced that it has successfully completed the acquisition of AK Steel Holding Corporation, integrating North America’s largest producer of iron ore pellets downstream into the production of value-added steel and specialty manufactured parts for the automotive industry.  The combined company will be led by Chairman, President and Chief Executive Officer Lourenco Goncalves.

Cleveland-Cliffs will remain headquartered in Cleveland, Ohio and will maintain an AK Steel office in West Chester, Ohio.  AK Steel will maintain its name and brand identity. The new Company employs nearly 12,000 people across mining and steel manufacturing operations in the United States, Canada and Mexico, and distribution facilities in Western Europe.

The complete news release and a fact sheet explaining the new Cleveland-Cliffs are available for download.

Cleveland-Cliffs CEO Testifies at Congressional Steel Caucus Hearing March 5, 2020

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.

CEO Lourenco Goncalves on "Closing Bell" October 23, 2019

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 CEO Lourenco Goncalves Meets Dr. Peter Navarro at White House October 3, 2019

Cliffs Chairman, President & 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.

Northshore DR-Grade Pellet Project Ribbon Cutting August 6, 2019

Cleveland-Cliffs held its a 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.

CEO Lourenco Goncalves on CNBC "Closing Bell" July 22, 2019

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.

"Eye on Mining" Highlights Northshore Project March 13, 2019

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.

United Taconite Project Mustang Pellet Plant Groundbreaking August 11, 2016

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 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.

Cliffs CEO on CNBC: China is biggest problem for steel oversupply May 20, 2016

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.

Steel's Resolve: Overcoming the Excess May 18, 2016

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

Sen Klobuchar Tours Reopened Northshore Mining May 6, 2016

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.

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