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
August US mill shipments slip but still higher than last year
The American Iron and Steel Institute reported a decline in the monthly shipments of US mills from July to August.
TransPod, Algoma, Supreme Steel linkup anchors Canadian steel in high-speed transit build
The three Canadian companies have announced a strategic partnership to support the development of an ultra-high-speed transit line from Edmonton to Calgary.
Metallus, USW agree to tentative four-year labor deal
Metallus and the United Steelworkers (USW) have agreed to a tentative four-year labor contract.
ArcelorMittal Dofasco resumes cokemaking after emergency maintenance
The Canadian steelmaker reported on Sept. 30 that “urgent maintenance” was needed in its coke plant off-gas systems. The work required coke oven gas from the No. 2 coke plant to be flared for most of that week.
AISI: Raw steel production ticks back down
US raw steel output declined last week after increasing the week prior, according to the latest data from the American Iron and Steel Institute (AISI). Output has see-sawed from week to week since mid-August. Still, it has remained historically strong over the past four months and has held near multi-year highs since June. Domestic mills […]