Newsroom

Largest blast furnace in the Americas operating at the lowest coke rate in the world

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.

Cleveland-Cliffs CEO Lourenco Goncalves Elected Chairman of American Iron and Steel Institute

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.

Cleveland-Cliffs 2023 Annual Meeting of Shareholders

An archived version of Cleveland-Cliffs May 17 Annual Meeting of Shareholders is available at the link below.

Great Lakes Clean Hydrogen Hub Coalition Submits Application for DOE Funding

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.

Great Lakes Clean Hydrogen Coalition Encouraged to Submit Full Application by U.S. Department of Energy

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

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.

Cleveland-Cliffs Participates in World-First Hydrogen Power Test

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 CEO on "The Claman Countdown"

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.'

Cleveland-Cliffs CEO Meets with Energy Secretary Granholm

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.

Cleveland-Cliffs CEO Meets with Indiana Governor

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.

U.S. Secretary of Transportation Pete Buttigieg Visits the Cleveland-Cliffs Toledo Direct Reduction Plant

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.

Cleveland-Cliffs Joins Great Lakes Clean Hydrogen Coalition

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 USW Reach Tentative Labor Agreements for 14,000 Employees

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 Granholm and Congresswoman Kaptur Visit Toledo HBI

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. 

CEO Lourenco Goncalves on "Mad Money"

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.

Lourenco Goncalves Provides Testimony to Congressional Steel Caucus

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.

Partnership Video: Keeping the City of Steel Lit

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 CEO Lourenco Goncalves Interview with FORTUNE

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.

CEO Goncalves Interviewed on The Claman Countdown

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.

Partnership Video: Mining - Deep History With A Bright Future

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.

Partnership Video: Mining - Deep History With A Bright Future

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 Rings NYSE Closing Bell

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.

CEO Goncalves Interviewed on Squawk Box

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. Portman Visits Toledo DR Plant

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.

Goncalves and Mrvan Tour Indiana Harbor

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 takes top honors at S&P Global Platts Metals awards

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.

Sen. Sherrod Brown Visits DR Plant in Toledo

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.

MN Legislators Visit DR Plant in Toledo

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.

Jul. 22: Cleveland Cliffs CEO doesn’t see slowing in steel demand, which remains ‘excellent’

“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.

Jun. 23: Cleveland-Cliffs Awarded by General Motors GM’s Supplier of the Year for Fourth Straight Year

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.

Jun. 9: Cleveland-Cliffs Holds Ribbon Cutting Ceremony at Direct Reduction Plant in Toledo

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.

Apr. 26: Lourenco Goncalves on Q1 earnings, health of American manufacturing

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.

Apr 12: US has been 'neglecting infrastructure for way too long': Cleveland-Cliffs CEO

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.

Jan. 19: Cleveland-Cliffs Donates $1 Million to Address Food Insecurity in Over 35 Communities Across North America

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.

Dec. 9: Cleveland-Cliffs Completes Acquisition of ArcelorMittal USA

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.

Green American Steel: The Envy of the World

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 Wins GM Supplier of the Year Award

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 Applauds Section 232 Investigation on Transformer Laminations and Cores, Electrical Transformers and Transformer Regulators

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.”

Lawmakers Urge President Trump to Preserve American Electrical Steel Industry

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 CEO Testifies at Congressional Steel Caucus Hearing

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"

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

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.

Northshore DR-Grade Pellet Project Ribbon Cutting

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.

CEO Lourenco Goncalves on CNBC "Closing Bell"

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

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

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.

Cliffs CEO on CNBC: China is biggest problem for steel oversupply

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

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

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.