Steel Products
Cliffs Files Suit Against Mesabi Metallics
Written by Sandy Williams
September 4, 2018
Cleveland Cliffs has filed a lawsuit over mineral rights in Nashwauk, Minnesota. The iron ore company has filed suit against the Minnesota Department of Natural Resources, MDNR Commissioner Tom Landwehr and Mesabi Metallics, to prohibit Mesabi Metallics from mining iron ore on properties owned or controlled by Cleveland Cliffs.
Cliffs purchased surface and mineral rights to various parcels in the Nashwauk area from Glacier Park Iron Ore properties. A DNR permit issued to Mesabi includes 1.1 billion tons of “in-situ inferred taconite resources” on Cliffs’ property, according to the lawsuit. Cliffs requested in March and again in May that the Mesabi permits be modified, transferred or revoked by the DNR to protect company owned resources Both requests were denied by the DNR. The company has also asked Mesabi to refrain from trespassing.
{loadposition reserved_message}
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products
US and Canadian rig counts stabilize
US counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.
Plate market sources critique mill hikes amid current market conditions
Following spot market plate price increase notices issued by domestic mills this past week, participants are contemplating the rationale behind the increases and whether they will stick. Some sources anticipate that current market conditions will shift in November and believe the increases may set a new "pricing floor."
Oregon Steel Mills lifts plate prices by $60/ton
Oregon Steel Mills has joined other producers in announcing a price increase of at least $60 per short ton on steel plate.
CRU: Construction of pilot plant for green steel process starts
Voestalpine and partners have begun building an industrial-scale Hy4Smelt demonstration plant in Linz, Austria, which they hope will become key in the decarbonization of steel.
Rig count increases in the US and in Canada
Oil and gas drilling activity increased this week in the US and Canada for the third consecutive week, according to the latest Baker Hughes rig count data. US counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.