Cleveland-Cliffs Inc. Addresses Inaccurate Media Reports Regarding Nashwauk, MN Property
January 21 2018 - 8:00AM
Business Wire
Cleveland-Cliffs Inc. (NYSE: CLF) today said it is
addressing inaccurate media reports related to its real estate
interests located in Itasca County west of Nashwauk, Minnesota, as
well as recent activities the Company performed on its own site.
Cleveland-Cliffs objects to such inaccurate information and is
providing the following facts about its recent activity in order to
set the record straight:
1) The Company acquired from Glacier Park Iron Ore Properties in
December 2017 a combination of undivided and whole fee interests,
as well as mineral and surface leases within the Biwabik Iron
Formation, for a total of 3,768 acres. The public records in Itasca
County provide clear confirmation that Cleveland-Cliffs Minnesota
Land Development LLC, a wholly-owned subsidiary of
Cleveland-Cliffs, is the owner/lessee of record of the property.
2) The Company employed a standard practice and protocol of
posting signage to identify the perimeters of its land. The
activity is focused on surveying the Company’s acreage and for
reasons of public safety. 3) The signs were placed on
existing fencing, posts and trees. No new fencing was erected
during this process. 4) Cliffs’ contractors legally accessed
the property through public roads during daytime hours, and there
was no night-time activity as alleged in the media reports.
5) Before the activity was initiated, the Company informed the
Itasca County Sheriff and other local officials of its intention to
access its property and undertake the actions within its rights to
survey and secure the property. 6) Also as part of the
notification process, Cliffs made an effort to hand-deliver a
courtesy letter to Mesabi Metallics’ representative Robb Bigelow
about the planned activity, but he rejected receiving the letter.
7) Neither Governor Mark Dayton nor any other public
official on the Iron Range have reached out to Lourenco Goncalves,
Chairman, CEO and President of Cleveland-Cliffs, about the
situation related to Cliffs’ acquisition of property at the
Nashwauk site.
Founded in 1847, Cleveland-Cliffs Inc. is the largest and oldest
independent iron ore mining company in the United States. We are a
major supplier of iron ore pellets to the North American steel
industry from our mines and pellet plants located in Michigan and
Minnesota. Additionally, we operate an iron ore mining complex in
Western Australia. By 2020, Cliffs expects to be the sole producer
of hot briquetted iron (HBI) in the Great Lakes region with the
development of its first production plant in Toledo, Ohio. Driven
by the core values of safety, social, environmental and capital
stewardship, our employees endeavor to provide all stakeholders
with operating and financial transparency. For more information,
visit http://www.clevelandcliffs.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20180121005098/en/
Cleveland-Cliffs Inc.MEDIA CONTACT:Patricia
Persico, 216-694-5316Director, Corporate
CommunicationsorINVESTOR CONTACT:Paul Finan,
216-694-6544Director, Investor Relations
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