Steel Mills
Cliffs Moves Closer to Iron Ore Leases in Nashwauk, Minn.
May 4, 2023
Cleveland-Cliffs has progressed in its attempt to secure iron ore mineral leases at its land near Nashwauk, Minn.
An agreement has been reached with the Minnesota Department of Natural Resources (DNR) and is up for review by the Minnesota Executive Council on May 25, Lourenco Goncalves, Cliffs’ chairman, president, and CEO, said in a statement on Thursday.
“When approved by the MN Executive Council, the leases will be used to provide a long-term extension of Hibbing Taconite’s mine life, securing the future of Hibbing Taconite and the good-paying, union jobs at HibTac, our flagship operation in Minnesota,” Goncalves added.
In early March, new mineral leases for its Hibbing Taconite Co. iron ore mining and pellet processing operations on the state’s Mesabi Iron Range had been approved. At the time Goncalves said those leases could keep HibTac running through at least 2026, and that leases in Nashwauk could keep the facility operating for “decades.”
A joint venture between Cliffs and US Steel, Hibbing Taconite produces about 7.8 million tons of standard iron-bearing pellets and mines about 29 million tons of ore annually, according to Cliffs’ website.
By Ethan Bernard, ethan@steelmarketupdate.com
Latest in Steel Mills
Hybar lowers output forecast, owning up to EAF startup delay
Hybar LLC’s rebar mill in Osceola, Ark., is now melting scrap and will soon be fulfilling orders, according to CEO David Stickler, despite a six-to-eight-week delay caused by commissioning the world’s first Aura electrical system.
Steel Dynamics guides to more metal, more money in Q3
Steel Dynamics Inc. is bullish heading into the close of the third quarter, with all three of its operating segments tracking higher.
AHMSA opens doors to potential buyers as $1.3B asset auction nears
AHMSA is opening its doors to potential buyers to tour its steel plant and mining operations in northern Mexico in preparation for the next stage of its bankruptcy process: the auction of its assets.
USW seeks clarity on USS plans for Granite City Works
The United Steelworkers union has asked U.S. Steel to elaborate on its Granite City Works plans following reports that the steelmaker is ending processing at the facility.
Nucor maintains plate prices, opens October order book
Nucor aims to keep plate prices flat for a seventh straight month with the opening of its October order book.