Articles from Cleveland-Cliffs Inc.

Cleveland-Cliffs Inc. (NYSECLF) (“Cliffs”) will announce its full-year and fourth-quarter 2024 earnings results after the U.S. market close on Monday, February 24, 2025.

Cleveland-Cliffs Inc. (NYSECLF) will hold a press conference today at its Butler Works plant in Butler, Pennsylvania, featuring Chairman, President, and CEO Lourenco Goncalves. The event marks the five-year anniversary of Cleveland-Cliffs' acquisition of AK Steel. At the time of the acquisition five years ago, Cliffs made the strategic commitment to defend U.S. national security by preserving operations and jobs at Butler Works, where it produces the grain-oriented electrical steel critical for the supply of electricity to the country. The press conference will address issues important to Cleveland-Cliffs and the domestic steel industry, and will feature opening remarks and media Q&A.

Cleveland-Cliffs Inc. (NYSECLF) (“Cliffs”) provided the following statement regarding the recent developments related to the United States Government decision to prohibit the unlawful acquisition of the United States Steel Corporation by Nippon Steel of Japan:

Cleveland-Cliffs Inc. (NYSECLF) (“Cliffs”) announced today that it has appointed Jane M. Cronin to its Board of Directors, effective immediately.

Cleveland-Cliffs Inc. (NYSECLF) today reported third-quarter results for the period ended September 30, 2024.

Cleveland-Cliffs Inc. (NYSECLF) (“Cliffs”) today announced that it has successfully completed its acquisition of Stelco Holdings Inc. (“Stelco”). The addition of Stelco enhances Cliffs’ position as the largest flat-rolled steel producer in North America, diversifies Cliffs’ end-markets and expands its geographical presence in Canada. Stelco will continue operations as a wholly-owned subsidiary of Cliffs, preserving the name and iconic Canadian legacy of the business.

Cleveland-Cliffs Inc. (NYSECLF) (“Cliffs”) today announced that it has received regulatory and program approvals under the Investment Canada Act and Strategic Innovation Fund, the final approvals needed to complete Cliffs’ pending acquisition of Stelco Holdings Inc. (“Stelco”). With these approvals in hand, the acquisition can move to closing. The transaction is currently scheduled to close on November 1, 2024.

Cleveland-Cliffs Inc. (NYSECLF) will announce its third-quarter 2024 earnings results after the U.S. market close on Monday, November 4, 2024.

Cleveland-Cliffs Inc. (NYSECLF) (“Cliffs”) today announced that it has received a "no-action letter" from the Canadian Competition Bureau confirming that the Commissioner of Competition does not intend to challenge Cliffs’ pending acquisition of Stelco Holdings Inc. (“Stelco”). Cliffs remains on track to close the transaction this quarter.

Cleveland-Cliffs Inc. (NYSECLF) (“Cliffs”) announced today that it has upsized and priced $900 million aggregate principal amount of Senior Guaranteed Notes due 2029 (the “2029 Notes”) and $900 million aggregate principal amount of Senior Guaranteed Notes due 2033 (the “2033 Notes” and, together with the 2029 Notes, the “Notes”) in an offering that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The 2029 Notes will bear interest at an annual rate of 6.875% and will be issued at par. The 2033 Notes will bear interest at an annual rate of 7.375% and will be issued at par. The Notes will be guaranteed on a senior unsecured basis by Cliffs’ material direct and indirect wholly-owned domestic subsidiaries, other than certain excluded subsidiaries.

Cleveland-Cliffs Inc. (NYSECLF) (“Cliffs”) announced today that it intends to offer to sell, subject to market and other conditions, $800 million aggregate principal amount of Senior Guaranteed Notes due 2029 (the “2029 Notes”) and $800 million aggregate principal amount of Senior Guaranteed Notes due 2033 (the “2033 Notes” and, together with the 2029 Notes, the “Notes”) in an offering that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Notes will be guaranteed on a senior unsecured basis by Cliffs’ material direct and indirect wholly-owned domestic subsidiaries, other than certain excluded subsidiaries.

Cleveland-Cliffs Inc. (NYSECLF) (“Cliffs”) today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”), in connection with its pending acquisition of Stelco Holdings Inc. (“Stelco”). The expiration of the HSR Act waiting period clears an important regulatory hurdle and marks a significant step toward the closing of this acquisition, which is expected to occur in the fourth quarter of 2024 following the satisfaction or waiver of other customary closing conditions and approvals.

Cleveland-Cliffs Inc. (NYSECLF) announced that it will be hosting United States Trade Representative (USTR) Katherine Tai, Acting Secretary of Labor Julie Su, Congresswoman Chrissy Houlahan, together with the Director of District 10 of the United Steelworkers (USW) Bernie Hall, at its Coatesville, PA mill on Friday, October 11. This visit follows USTR’s recent final determination relating to increased Section 301 tariffs on imports of steel, electric vehicles and various manufacturing components from China. USTR is also currently conducting a Section 301 investigation on the unfair trade practices of the Chinese shipbuilding sector in response to a petition filed by the USW and allied organized labor groups. Cleveland-Cliffs Coatesville specializes in the production of steel plate for military and commercial shipbuilding industries.

Cleveland-Cliffs Inc. (NYSECLF) (“Cliffs”) is pleased to announce that the holders of common shares (the “Shareholders”) of Stelco Holdings Inc. (TSX: STLC) (“Stelco”) voted in favor of, and overwhelmingly approved, the special resolution (the “Arrangement Resolution”) regarding the previously announced indirect acquisition of Stelco by Cliffs at a special meeting of the Shareholders held earlier today (the “Stelco Meeting”). The Arrangement Resolution received support of 99.97% of the total votes cast for the Arrangement Resolution. The transaction is expected to close in the fourth quarter of 2024. Upon closing of the transaction, which remains subject to the satisfaction or waiver of the remaining conditions to closing contained in the arrangement agreement, Stelco is expected to continue as a wholly-owned subsidiary of Cliffs.

Cleveland-Cliffs Inc. (NYSECLF) (“Cliffs”) remains fully committed toward the transformational project underway at its Middletown Works integrated facility in Middletown, Ohio. As previously disclosed, Cliffs was selected for award negotiations for up to $500 million in total funding from the Department of Energy toward the replacement of its Middletown blast furnace with a Direct Reduced Iron (DRI) Plant and two Electric Melting Furnaces (EMF). The Company continues to be in active negotiations with the Department of Energy related to the award-specifc terms and conditions. Cliffs remains optimistic about receiving final approvals and proceeding with this carbon-friendly and high-return project.

Cleveland-Cliffs Inc. (NYSECLF) (“Cliffs”) today announced that it successfully amended its $4.75 billion Asset-Based Lending (ABL) facility as part of the financing for the pending acquisition of Stelco Holdings Inc. (“Stelco”). Cliffs has completely replaced Goldman Sachs’ participation with increased commitments from Bank of America, Wells Fargo, J.P. Morgan, Fifth Third, Truist, Capital One, BMO, Huntington, and U.S. Bank. Additionally, PNC, Flagstar, UBS, MUFG, Regions, Barclays, ING, RBC, and First Citizens have also maintained their existing commitments to the ABL.

Cleveland-Cliffs Inc. (NYSECLF) (“Cliffs”) applauded the reported decision by President Biden to officially block the foreign takeover of U.S. Steel by Japan’s Nippon Steel. The Company provided the following statement from its Chairman, President and CEO, Lourenco Goncalves:

Cleveland-Cliffs Inc. (NYSECLF) (“Cliffs”) announced today that Michael Hrosik has been named Senior Vice President, Commercial of the organization. The promotion is effective immediately. Mr. Hrosik has over 30 years of steel industry experience in commercial functions, most recently as Vice President, Flat-Rolled Steel Sales for Cliffs. In his new role, Mr. Hrosik will oversee all responsibility for Cliffs’ commercial operations, including sales, marketing, and customer service. His extensive experience, primarily with Cliffs and its legacy companies ArcelorMittal USA, ISG, and LTV, will play a critical role in driving Cliffs’ strategy forward.

Cleveland-Cliffs Inc. (NYSECLF) (“Cliffs”) announced today that its employees represented by the United Auto Workers (UAW) Local 600 have ratified a four-year labor contract for its Dearborn Works operations. The new contract is effective through July 31, 2028, and will cover approximately 1,000 UAW-represented workers at Dearborn.

Cleveland-Cliffs Inc. (NYSECLF) (“Cliffs”) announced today that it has upsized and priced an additional $600 million aggregate principal amount of Senior Guaranteed Notes due 2032 (the “Additional Notes”) in an offering (the “Additional Notes Offering”) that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Additional Notes will bear interest at an annual rate of 7.000% and will be issued at a price of 99.25% of their principal amount. The Additional Notes will be guaranteed on a senior unsecured basis by Cliffs’ material direct and indirect wholly-owned domestic subsidiaries, other than certain excluded subsidiaries.

Cleveland-Cliffs Inc. (NYSECLF) (“Cliffs”) announced today that it intends to offer to sell, subject to market and other conditions, an additional $500 million aggregate principal amount of Senior Guaranteed Notes due 2032 (the “Additional Notes”) in an offering (the “Additional Notes Offering”) that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Additional Notes will be an issuance of Cliffs’ existing 7.000% Senior Guaranteed Notes due 2032 and will be issued as additional notes under the indenture dated as of March 18, 2024 (as supplemented, the “Indenture”) pursuant to which Cliffs previously issued $825 million aggregate principal amount of 7.000% Senior Guaranteed Notes due 2032 (the “Initial Notes”). The Additional Notes will be of the same class and series as, and otherwise identical to, the Initial Notes other than with respect to the date of issuance and issue price. The Additional Notes will be guaranteed on a senior unsecured basis by Cliffs’ material direct and indirect wholly-owned domestic subsidiaries, other than certain excluded subsidiaries.

Cleveland-Cliffs Inc. (NYSECLF) today reported second-quarter results for the period ended June 30, 2024.

Cleveland-Cliffs Inc. (NYSECLF) announced today that it will establish a new electrical distribution transformer production plant in Weirton, West Virginia. This downstream direct investment by Cleveland-Cliffs in Weirton will address the critical shortage of distribution transformers that is stifling economic growth across the United States. Lourenco Goncalves, Cleveland-Cliffs' Chairman, President and Chief Executive Officer will host a press conference with West Virginia Governor Jim Justice and other elected officials in Weirton today, July 22. The announcement will highlight Cleveland-Cliffs’ investment to repurpose its Half Moon Warehouse in Weirton to commence production of three-phase distribution transformers used in electric power distribution systems. The total capital investment is $150 million, of which $50 million (or one third) will be granted by the state of West Virginia to Cliffs through a forgivable loan. Cliffs expects the new plant to come online in the first half of 2026. The efficiency standards for distribution transformers recently promulgated by the U.S. Department of Energy support the long-term utilization of highly-efficient American-made Grain Oriented Electrical Steel (GOES), ensuring the viability of this investment in Weirton.

Cleveland-Cliffs Inc. (NYSECLF) (“Cliffs” or “the Company”) is pleased to announce that it has entered into a definitive agreement to acquire Stelco Holdings Inc. (TSX:STLC) (“Stelco”). The acquisition confirms Cliffs’ commitment and leadership in integrated steel production in North America, and also brings an additional 1,800 United Steelworkers (“USW”) union employees into Cliffs’ workforce. Under the terms of the agreement, Stelco shareholders will receive CAD $60.00 per Stelco common share in cash and 0.454 shares of Cliffs common stock per share of Stelco common stock (or CAD $10.00 per share as of July 12, 2024), representing a total consideration of CAD $70.00 per Stelco share. The transaction has received full support from David McCall, International President of the USW union.

Cleveland-Cliffs Inc. (NYSECLF) will announce its second-quarter 2024 earnings results after the U.S. market close on Monday, July 22, 2024.

Cleveland-Cliffs Inc. (NYSECLF) today hosted U.S. Senator Sherrod Brown (OH) and leadership from the United Steelworkers, David McCall, USW International President and Donnie Blatt, Director of USW District 1, at its Cleveland Works plant in Ohio for a press conference. A full video of the press conference, including both prepared remarks and media Q&A, has been posted on its website at www.clevelandcliffs.com.

Cleveland-Cliffs Inc. (NYSECLF) announced that Lourenco Goncalves, Chairman, President and Chief Executive Officer is hosting Senator Sherrod Brown (OH) and leadership from the United Steelworkers, David McCall, USW International President and Donnie Blatt, Director of USW District 1, at its Cleveland Works plant in Ohio on Wednesday, June 26 for a press conference. Senator Brown’s visit follows the recent bipartisan legislation introduced to stop the dramatic increase in Mexican steel imports. The Stop Mexico’s Steel Surge Act reinstates the 232 tariffs on Mexican steel imports at 25 percent, for no less than a year, and gives the President of the United States the authority to impose additional quotas and tariff rate quotas on specific products if necessary. Senator Brown has led efforts pushing the current administration to take aggressive action to enforce the agreement to level the playing field for American manufacturers and workers in the steel industry.

Cleveland-Cliffs Inc. (NYSECLF) announced today that it has set new greenhouse gas (GHG) emissions reduction targets. The Company’s prior commitment to reduce absolute Scope 1 (direct) and Scope 2 (indirect) GHG emissions by 25% by 2030, relative to 2017 levels, has already been successfully achieved well ahead of schedule.

Cleveland-Cliffs Inc. (NYSECLF) today addressed the inaccurate allegations published by the U.S. Steel Board on May 21, 2024, regarding its doomed attempt to sell its company to a foreign buyer without Union support.

Cleveland-Cliffs Inc. (NYSECLF) today applauded the International Trade Commission’s (ITC) unanimous decision to uphold tariffs on tin mill products from Japan. After recently rejecting tariffs on tin mill products from several countries including China, the ITC correctly declared that Japan is different – Japan is not a fair trade partner with the United States. The United States currently has antidumping orders on 12 steel products from Japan. The largest producer of steel and tin mill products in Japan is Nippon Steel Corporation.

Cleveland-Cliffs Inc. (NYSECLF) announced today that, in response to industry trends and feedback from customers, the Company will publish a “Cliffs Hot Rolled Market Price” via letter to all flat-rolled customers on a monthly basis. The price will be published in conjunction with the monthly opening of the Hot Rolled order book, and will be simultaneously published at https://www.clevelandcliffs.com/doing-business/. Cliffs may also update this price more frequently as market conditions necessitate.

Cleveland-Cliffs Inc. (NYSECLF) today reported first-quarter results for the period ended March 31, 2024.

Cleveland-Cliffs Inc. (NYSECLF) announced that it is hosting Secretary Jennifer Granholm at its Butler Works plant in Pennsylvania today, April 22nd. The Secretary’s visit follows the recent Department of Energy’s (DOE) final transformer efficiency standard rule that will provide for the continued utilization of Grain-Oriented Electrical Steel (GOES) in virtually all of electrical distribution transformer end markets. Cleveland-Cliffs is the sole producer of GOES in the United States, and was selected for award negotiations for up to $75 million in total funding from the DOE to pursue a decarbonization investment at Butler Works.

Cleveland-Cliffs Inc. (NYSECLF) today applauded the Department of Energy’s (DOE) final transformer efficiency standard rule that will provide for the continued utilization of Grain-Oriented Electrical Steel (GOES) in virtually all of Cliffs’ current distribution transformer end markets.

Cleveland-Cliffs Inc. (NYSECLF) announced today the release of its Sustainability Report 2023. The Report informs about Cleveland-Cliffs’ continued progress on environmental, social and governance (ESG) performance for 2023, including its achievements in reducing greenhouse gas (GHG) emissions and decarbonization initiatives. It also includes a Limited Assurance Review issued by Deloitte & Touche LLP.

Cleveland-Cliffs Inc. (NYSECLF) will announce its first-quarter 2024 earnings results after the U.S. market close on Monday, April 22, 2024.

Cleveland-Cliffs Inc. (NYSECLF) today announced that it is increasing current spot market base prices by $60 per net ton for all carbon hot rolled, cold rolled and coated steel products, effective immediately with all new orders. Cliffs’ minimum base price for hot rolled steel is now $900 per net ton.

Cleveland-Cliffs Inc. (NYSECLF) announced today that two of its projects have been selected for award negotiations for up to $575 million in total funding from the United States Department of Energy (DOE) to pursue two decarbonization investments at Middletown Works in Ohio and Butler Works in Pennsylvania. Following successful negotiations, these projects will allow for substantial reductions in greenhouse gas (GHG) emissions across the Cliffs’ footprint and will also create efficiencies that meaningfully drive down operating costs while securing and growing good-paying Union jobs. This federal funding is being made available through DOE’s Industrial Demonstrations Program funded through the Infrastructure Investment and Jobs Act and the Inflation Reduction Act.

Cleveland-Cliffs Inc. (NYSECLF) announced today the expiration of and final results for its previously announced offer to purchase for cash (the “Tender Offer”) any and all of its outstanding 6.750% Senior Secured Notes due 2026 (the “Notes”). The Tender Offer expired at 5:00 p.m., New York City time, on March 13, 2024 (the “Expiration Time”).

Cleveland-Cliffs Inc. (NYSECLF) today announced that it is increasing current spot market base prices for all carbon hot rolled, cold rolled and coated steel products, effective immediately with all new orders. Cliffs’ minimum base price for hot rolled steel is now $840 per net ton.

Cleveland-Cliffs Inc. (NYSECLF) announced today that it has upsized and priced $825 million aggregate principal amount of senior unsecured guaranteed notes due 2032 (the “Notes”) in an offering that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Notes will bear interest at an annual rate of 7.000% and will be issued at par. The Notes will be guaranteed on a senior unsecured basis by the Company’s material direct and indirect wholly-owned domestic subsidiaries, other than certain excluded subsidiaries. The offering is expected to close on March 18, 2024, subject to the satisfaction of customary closing conditions.

Cleveland-Cliffs Inc. (NYSECLF) announced today the commencement of a tender offer to purchase (the “Tender Offer”), subject to certain terms and conditions, any and all of its outstanding 6.750% Senior Secured Notes due 2026 (the “Notes”), at the price set forth below.

Cleveland-Cliffs Inc. (NYSECLF) announced today that it intends to offer to sell, subject to market and other conditions, $750 million aggregate principal amount of senior unsecured guaranteed notes due 2032 (the “Notes”) in an offering that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Notes will be guaranteed on a senior unsecured basis by the Company’s material direct and indirect wholly-owned domestic subsidiaries, other than certain excluded subsidiaries.

The U.S. International Trade Commission (ITC) this week issued public documents detailing the rationale behind its unanimous negative injury determination in the tin mill products trade case brought by co-petitioners Cleveland-Cliffs and the United Steelworkers (USW). This determination by the ITC negated the implementation of anti-dumping and countervailing duties calculated by the Department of Commerce and will result in the continuation of widespread unfair trade practices in the tin mill products market.

Cleveland-Cliffs Inc. (NYSECLF) announced today that it will be indefinitely idling its tinplate production plant located in Weirton, West Virginia in April 2024. The need to idle the Weirton plant is a direct result of the unanimous decision issued by all four members of the International Trade Commission (ITC) negating the implementation of anti-dumping and countervailing duties on tin mill products calculated by the Department of Commerce. A WARN notice is being issued today to approximately 900 impacted employees. These employees will be provided relocation opportunities to work at other Cliffs’ facilities and/or severance packages.

Cleveland-Cliffs Inc. (NYSECLF) today reported full-year and fourth-quarter results for the period ended December 31, 2023.

Cleveland-Cliffs Inc. (NYSECLF) announced today that it has successfully completed a hydrogen (H2) injection trial at its Indiana Harbor #7 blast furnace, the largest blast furnace in North America. This represents the second Cleveland-Cliffs blast furnace to utilize hydrogen as a reductant and fuel source, following the successful trial at Middletown Works in May of 2023. Indiana Harbor #7 is among the largest blast furnaces in the entire world, both in size and production capacity. IH#7 also compares favorably against similar equipment in Japan, Korea, China or Europe, for its technological capability to support the production of high-end steels, including highly specified automotive feedstock.

Cleveland-Cliffs Inc. (NYSECLF) today applauded the Department of Commerce’s Final Antidumping and Countervailing Determinations on tin mill products from several trade partners responsible for unfair trade. In January 2023, Cleveland-Cliffs and the United Steelworkers jointly filed an antidumping and countervailing duty trade case alleging that a surge of dumped and subsidized tin mill product imports had materially injured Cleveland-Cliffs’ Weirton operation and its USW workforce.

Cleveland-Cliffs Inc. (NYSECLF) will announce its full-year and fourth-quarter 2023 earnings results after the U.S. market close on Monday, January 29, 2024.

Cleveland-Cliffs (NYSECLF) announced today that it has appointed renowned private equity executive, labor and political advisor Ron Bloom to its Board of Directors, effective immediately. With the addition of Mr. Bloom, the Cleveland-Cliffs’ Board of Directors is now comprised of eleven members, of which ten are independent directors.

Cleveland-Cliffs Inc. (NYSECLF) today announced that it is increasing current spot market base prices for all carbon hot rolled, cold rolled and coated steel products, effective immediately with all new orders. Cliffs’ minimum base price for hot rolled steel is now $1,150 per net ton.

Cleveland-Cliffs Inc. (NYSECLF) (“Cliffs” or “the Company”) issued the following statement regarding the announced proposed acquisition of U.S. Steel by Nippon Steel.

Cleveland-Cliffs announced today that the U.S. Department of Energy (DOE) is featuring the Company in its Better Climate Challenge Road Show series. The Better Climate Challenge Road Show showcases real-world pathways for public and private organizations to decarbonize their buildings and plants.

Cleveland-Cliffs Inc. (NYSECLF) today announced that it is increasing current spot market base prices for all carbon hot rolled, cold rolled and coated steel products, effective immediately with all new orders. Cliffs’ minimum base price for hot rolled steel is now $1,100 per net ton.

Cleveland-Cliffs Inc. (NYSECLF) today announced that it is increasing current spot market base prices for all carbon hot rolled, cold rolled and coated steel products, effective immediately with all new orders. Cliffs’ minimum base price for hot rolled steel is now $1,000 per net ton.

Cleveland-Cliffs Inc. (NYSECLF) today announced that it is increasing current spot market base prices for all carbon hot rolled, cold rolled and coated steel products, effective immediately with all new orders. Cliffs’ minimum base price for hot rolled steel is now $900 per net ton.

Cleveland-Cliffs announced today that the U.S. Department of Energy (DOE) has recognized the Company as a GHG Emissions Reduction 2023 Goal Achiever through its Better Buildings Initiative and Better Climate Challenge. The Company achieved its first DOE goal by reducing its absolute scope 1 and 2 GHG emissions by 32 percent by year-end 2022 from a 2017 baseline and exceeding its target to reduce by 25 percent by the year 2030.

Cleveland-Cliffs Inc. (NYSECLF) today reported third-quarter results for the period ended September 30, 2023.

Cleveland-Cliffs Inc. (NYSECLF) today announced that it is increasing current spot market base prices for all carbon hot rolled, cold rolled and coated steel products, effective immediately with all new orders. Cliffs’ minimum base price for hot rolled steel is now $800 per net ton.

Cleveland-Cliffs applauds today’s announcement by the Department of Energy (DOE) that it has awarded funding under the Bipartisan Infrastructure Law for several hydrogen hubs, including the Midwest Alliance for Clean Hydrogen (MachH2). MachH2 is expected to generate numerous sources of clean hydrogen production across the U.S. Midwest, including in Northwest Indiana near Cleveland-Cliffs’ two largest steel plants, Indiana Harbor and Burns Harbor. Cleveland-Cliffs is currently constructing a pipeline to bring hydrogen from the fence to Indiana Harbor Blast Furnace #7.

Cleveland-Cliffs Inc. (NYSECLF) will announce its third-quarter 2023 earnings results after the U.S. market close on Monday, October 23, 2023.

Cleveland-Cliffs Inc. (NYSECLF) today announced that it is increasing current spot market base prices for all carbon hot rolled, cold rolled and coated steel products, effective immediately with all new orders. Cliffs’ minimum base price for hot rolled steel is now $750 per net ton.

Cleveland-Cliffs Inc. (NYSECLF) mourns the loss of USW International President, Tom Conway.

Cleveland-Cliffs Inc. (NYSECLF) announced today that its employees represented by the United Steelworkers (USW) at its Northshore Mining operations in Minnesota ratified a new 3-year labor agreement. The agreement covers approximately 430 USW-represented employees at Cleveland-Cliffs Northshore.

Cleveland-Cliffs Inc. (NYSECLF) announced today that it has reached a tentative agreement with the United Steelworkers (USW) on a new 3-year labor agreement. The new contract will cover approximately 430 USW-represented workers at Cliffs’ Northshore Mine in Minnesota.

Cleveland-Cliffs Inc. (NYSECLF) (“Cleveland-Cliffs” or “Cliffs”) today announced receipt of the assignment of the United Steelworkers’ (USW) right to bid under their Basic Labor Agreement with United States Steel Corporation NYSE:XNYSEX)

Cleveland-Cliffs Inc. (NYSECLF) (“Cleveland-Cliffs” or “Cliffs”) is publicly announcing a previously private offer that it had presented to the Board of the United States Steel Corporation NYSE:XNYSEX)

Cleveland-Cliffs Inc. (NYSECLF) today reported second-quarter results for the period ended June 30, 2023.

Cleveland-Cliffs Inc. (NYSECLF) will announce its second-quarter 2023 earnings results after the U.S. market close on Monday, July 24, 2023.

Cleveland-Cliffs Inc. (NYSECLF) today announced that it applauds the preliminary determination reached by the U. S. Department of Commerce that producers of Tin Mill Products from China benefit from significant countervailable government subsidies. The subsidy rate for Baoshan Iron and Steel is 542.55 percent and for Jingtang Iron and Steel is 89.02 percent. The rate of 89.02 percent applies to all other exporters. In addition, Commerce announced that it was initiating an investigation of additional subsidies alleged by Cleveland-Cliffs and the United Steelworks (USW) as petitioners. Importers of subject Tin Mill Products will be required to post cash deposits upon publication.

Cleveland-Cliffs Inc. (NYSECLF) announced today it has reached a new three-year labor agreement with the United Auto Workers (UAW) for Coshocton Works, to become effective July 31, 2023. The agreement is tentative, pending ratification by UAW local union membership, and will cover approximately 330 UAW-represented workers.

Cleveland-Cliffs Inc. (NYSECLF) today announced that it is increasing current spot market base prices for all carbon hot rolled, cold rolled and coated steel products by a minimum of $50 per net ton, effective immediately with all new orders. Cliffs’ minimum base price for hot rolled steel is now $950 per net ton.

Cleveland-Cliffs Inc. (NYSECLF) announced today that it has successfully amended and extended its asset-based lending credit facility (ABL). The amendment extends the maturity date of the facility to June 9, 2028 and transitions the benchmark interest rate from LIBOR to SOFR. The borrowing base of the amended ABL now includes the assets of Ferrous Processing & Trading Company (FPT), which was acquired by Cleveland-Cliffs in November 2021.

Cleveland-Cliffs Inc. (NYSECLF) announced today that it was named to the Fortune 500 list, once again among the top 200 companies. Cleveland-Cliffs’ 2022 revenue of $23 billion earned Cleveland-Cliffs the ranking of 170 on the list for 2023. The Fortune 500 list ranks companies that are incorporated and operate in the U.S. by total revenues for their respective fiscal years.

Cleveland-Cliffs Inc. (NYSECLF) issued a statement today regarding the Minnesota Executive Council’s approval of state mineral leases for more than 2,600 acres of iron ore at the Nashwauk mine site in Itasca County, Minnesota. Today’s approval is a final action and Cleveland-Cliffs has now assumed these leases.