Cleveland-Cliffs Holds Ribbon Cutting Ceremony at Direct Reduction Plant in Toledo
June 09 2021 - 7:00AM
Business Wire
Cleveland-Cliffs Inc. (NYSE: CLF) is celebrating today 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 will host Ohio Governor
Mike DeWine for a ribbon cutting ceremony on site. The plant
employs nearly 160 employees.
Cleveland-Cliffs will be live streaming the ribbon cutting event
from the Direct Reduction facility today, June 9, at 10:00 AM ET.
The live broadcast is accessible via Cleveland-Cliffs’ YouTube
channel at https://www.youtube.com/c/ClevelandCliffsInc or via a
link on the homepage of Cleveland-Cliffs’ website at
www.clevelandcliffs.com.
Lourenco Goncalves, Chairman, President and Chief Executive
Officer, said, “Today we are celebrating a new era for the iron and
steel industry in the United States. This event formally marks the
culmination of our $1 billion investment to build and operate the
world’s most modern and environmentally friendly Direct Reduction
plant, and the first plant of its kind constructed for the present
and for the future.” Mr. Goncalves added, “Natural gas based iron
reduction is the future of our industry. The production and use of
HBI within our operations has catalyzed what has been a phenomenal
year for us and, very importantly, has supercharged our greenhouse
emissions reduction program. It has also boosted our profitability
through enhanced productivity in our blast furnaces and the
avoidance of prime scrap purchases from third parties for use in
our EAFs and BOFs.”
“I’m happy to be part of the celebration of Cleveland-Cliffs’
new Direct Reduction plant in Toledo,” said Governor DeWine. “This
plant is bringing new life to a site that is now producing
domestically a much-needed product for the steel industry using an
environmentally friendly process, and providing jobs and
opportunities for workers in Northwest Ohio,” said Governor Mike
DeWine. “When Cleveland-Cliffs was searching for a home for this
plant, they recognized that Ohio is a great place to do business
and chose Toledo because it has a ready workforce, excellent
infrastructure, and good partners to help lay the groundwork, such
as JobsOhio, the Toledo-Lucas County Port Authority, the Regional
Growth Partnership, the City of Toledo, and others.”
Lourenco Goncalves, Cliffs' Chairman, President and Chief
Executive Officer will be speaking at the event along with the
following dignitaries:
- Governor Mike DeWine
- Congresswoman Marcy Kaptur
- Toledo Mayor Wade Kapszukiewicz
Cleveland-Cliffs has the nominal capacity to produce 1.9 million
metric tons per year of customized high-quality HBI using natural
gas based iron reduction. HBI can be used in blast furnaces to
improve productivity and reduce GHG by lowering the amount of coke
needed for steel production. HBI can also be used in EAFs and BOFs
to replace foreign-sourced pig iron and prime scrap, thereby
lowering costs and reducing the higher GHG emissions associated
with pig iron production and transportation.
About Cleveland-Cliffs Inc.
Cleveland-Cliffs is the largest flat-rolled steel producer in
North America. Founded in 1847 as a mine operator, Cliffs also is
the largest manufacturer of iron ore pellets in North America. The
Company is vertically integrated from mined raw materials and
direct reduced iron to primary steelmaking and downstream
finishing, stamping, tooling, and tubing. The Company serves a
diverse range of markets due to its comprehensive offering of
flat-rolled steel products and is the largest supplier of steel to
the automotive industry in North America. Headquartered in
Cleveland, Ohio, Cleveland-Cliffs employs approximately 25,000
people across its mining, steel and downstream manufacturing
operations in the United States and Canada. For more information,
visit www.clevelandcliffs.com.
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