Company Announcements
July 6, 2026
Cliffs awarded $400M GOES contract from Department of War
Written by Ethan Bernard
Cleveland-Cliffs has been awarded a $400 million contract by the US Department of War for grain-oriented electrical steel (GOES), the department announced last week.
The contract for the Cleveland-based steelmaker came from the Defense Logistics Agency.
It stipulates a $400 million indefinite-delivery/indefinite-quantity contract for GOES and is a five-year pact with no option periods.
The performance completion date is set for Sept. 8, 2030, according to a July 1 statement from the department.
The statement said the branches using these services will be the US Army, Marine Corps, Navy, Air Force, and Space Force, and the appropriation is for fiscal 2025 through 2029 transaction funds.
A request for comment from Cliffs was not returned by time of publication.
SMU first reported the company would receive a five-year, $400-million contract in October. At the time, Cliffs’ Chairman, President, and CEO, Lourenco Goncalves, said Cliffs would supply up to 53,000 short tons of GOES.
Goncalves said at the time the government tends to stockpile the material for national security purposes.
