Steel Mills
ArcelorMittal Assuming Management of Hibbing Taconite
Written by Sandy Williams
January 2, 2019
ArcelorMittal announced it will take over as managing partner for Hibbing Taconite effective Aug. 12. The iron ore mine and pellet processing facility began production in 1976 and is currently managed by Cleveland Cliffs. The operation is jointly owned by ArcelorMittal, Cleveland Cliffs and U.S. Steel, holding shares of 62.4 percent, 23 percent and 14.7 percent, respectively.
Cleveland Cliffs announced in August 2018 that it would resign as managing partner when its contract expires, preferring to focus on its wholly-owned operations and its new HBI facility in Ohio.
“When Cliffs announced it would tender its resignation as managing partner, we knew that assuming oversight for the operation was the right thing for our business, the Hibbing workers and the Iron Range community,” said ArcelorMittal USA President John Brett in a statement. “Assuming the role of managing partner demonstrates ArcelorMittal’s continued commitment to Hibbing Taconite, while ensuring the long-term supply of quality iron ore to our key operations in the United States.”
The facility has 734 hourly and salaried employees and produces about 7.7 million tons of taconite annually. ArcelorMittal mines produced more than 62 million tons of iron ore in 2017. No changes in employment, production or operations are planned, said ArcelorMittal.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
As Q1 loss balloons, Cliffs pledges to cut costs, streamline operations
Cleveland-Cliffs Inc. gushed red ink in the first quarter, and pledged to stem the bleeding by idling inefficient, “loss-making operations” and increasing focus on its core automotive business.
Cliffs plans to idle three mills, cut 950 jobs on ‘insufficient demand and pricing’
Cleveland-Cliffs plans to indefinitely idle its steel mill in Riverdale, Ill., as well as mills in Conshohocken, Pa., and Steelton, Pa. The Cleveland-based steelmaker said all three facilities would be idled on or around June 30. Approximately 950 jobs will be impacted, the company said.
CRU: Usiminas may reduce capex unless government strengthens protection
“The lack of effective measures to create fair competition, amid a surge in subsidized imports, is the main threat to the sustainability of Brazil’s steel industry and its value chain,” CEO Marcelo Chara said.
USS swings to loss in first quarter on N. American flat-rolled segment woes
U.S. Steel CEO praised the company’s resilience, “despite the seasonally low results driven by annual mining logistics constraints in our North American Flat-Rolled segment and lagging spot prices.”
Nucor gives updates on new capacity coming online
Nucor said several of its capital projects will start operations within the next year and provided an update on them.