Cleveland-Cliffs Announces Ribbon Cutting Ceremony at its Northshore Mining in Minnesota
June 06 2019 - 12:41PM
Business Wire
Cleveland-Cliffs Inc. (NYSE: CLF) announced today that it will
host a ribbon cutting ceremony for its expansion at Northshore
Mining in Silver Bay, Minnesota on August 7. The Company will be
celebrating the startup of the new production equipment, including
supporting infrastructure, which will be completed on schedule and
within a total investment budget of $100 million. Cleveland-Cliffs
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.
The Company broke ground for the project in March 2018, and the
execution of the project will conclude after nearly 300,000 labor
hours of work. Construction jobs created for the project included
150 people employed at peak construction, which included
management, craft and labor. With the conclusion of the project,
Northshore Mining will be the only U.S. based iron ore processing
facility to produce low silica DR-grade pellets. The Northshore
operation will immediately start to produce DR-grade pellet
feedstock for Cliffs’ Hot Briquetted Iron Plant in Toledo, OH, a
$830 million investment that will be commissioned in mid-2020, as
well as DR-grade pellets to be exported to a new clientele of DRI
producers outside the United States.
About Cleveland-Cliffs Inc.
Founded in 1847, Cleveland-Cliffs Inc. is the largest and oldest
independent iron ore mining company in the United States. The
company is a major supplier of iron ore pellets to the North
American steel industry from its 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, Cliffs’ employees endeavor to provide all
stakeholders with operating and financial transparency.
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