Cleveland-Cliffs Inc. Addresses False Report
July 17 2018 - 2:56PM
Business Wire
Cleveland-Cliffs Inc. (NYSE: CLF) is responding to a
false report issued today by a company called Mesabi Metallics
Company LLC that there is a “commitment” between Cliffs’ managed
mine, Hibbing Taconite, and Mesabi Metallics to supply the Hibbing
operation with crude ore.
Neither Cliffs nor the Hibbing Taconite joint venture has any
iron ore agreement with Mesabi Metallics or any other entity owned
or operated by Tom Clarke. Additionally, contrary to the Mesabi
Metallics’ public statement, there have been no discussions,
conversations or any other type of communication between Lourenco
Goncalves, Chairman, President and CEO of Cliffs, and Tom
Clarke.
Issues regarding ownership and mining rights at the Nashwauk
site in Minnesota are currently being litigated in bankruptcy
court, where Cliffs expects to prevail. Cliffs believes that Mesabi
Metallics’ false statements are being disseminated to create
confusion and doubt among Cliffs’ customers and others with whom it
does business. As a consequence of today’s false statements, Cliffs
is working with its litigation counsel to consider additional legal
action against Mesabi Metallics and Clarke.
About Cleveland-Cliffs Inc.
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. 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: https://www.businesswire.com/news/home/20180717005960/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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