Cleveland-Cliffs Inc. is responding to a false report issued today by a company called Mesabi Metallics Company LLC that there is a “commitment” between Cliffs’ managed mine, Hibbing Taconite, and Mesabi Metallics to supply the Hibbing operation with crude ore. Neither Cliffs nor the Hibbing Taconite joint venture has any iron ore [...]
Cleveland-Cliffs Inc. today said it will be announcing second-quarter 2018 financial results before the U.S.-market open on Friday, July 20, 2018. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results. When: Friday, July 20, 2018, at 10 [...]
Cleveland-Cliffs Inc. is pleased to announce today that it has entered into a definitive agreement for the sale of substantially all of the assets of its Asia Pacific Iron Ore business to Mineral Resources Ltd., a leading Australian mining services company with a portfolio of existing mining operations across multiple commodities, including iron [...]
Cleveland-Cliffs Inc. today reported first-quarter results for the period ended March 31, 2018. As previously discussed, on January 1, 2018, Cliffs adopted the new revenue recognition standard and recognized the cumulative effect of this change as an addition to the opening balance of retained earnings of $34 million. Under ASC Topic 606, revenue [...]
Cleveland-Cliffs Inc. held a groundbreaking event with state and local dignitaries today to celebrate the construction of its first hot-briquetted iron production plant. Cleveland-Cliffs broadcasted live the event from the project’s construction site. The video is available to watch on-demand at the Cleveland-Cliffs YouTube channel. This [...]
Cleveland-Cliffs Inc. announced today that it will be holding a groundbreaking event on April 5, 2018 to celebrate the construction of its first hot-briquetted iron production plant. The company is investing $700 million to build one of the world’s most modern and efficient iron making plants, generating a total of 130 new jobs in Toledo [...]
Cleveland-Cliffs Inc. today said it will be announcing first-quarter 2018 financial results before the U.S.-market open on Friday, April 20, 2018. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results. When: Friday, April 20, 2018, at 10 [...]
Cleveland-Cliffs Inc., the largest merchant supplier of iron ore pellets to the United States steel industry, today issued the following statement regarding President Trump’s announcement of tariffs of 25 percent on steel imported to the United States. Lourenco Goncalves, Cliffs' Chairman, President and Chief Executive Officer, said [...]
Cleveland-Cliffs Inc. today announced that it has amended its senior secured asset-based lending credit facility , extended its maturity and introduced several improvements to the previous agreement , which was put into place in March of 2015. The changes were introduced in alignment with the Company’s vastly improved financial condition [...]
Cleveland-Cliffs Inc. today reported fourth-quarter and full-year results for the period ended December 31, 2017. Fourth-quarter 2017 consolidated revenues were $601 million, compared to prior-year fourth-quarter revenues of $754 million. Cost of goods sold was $492 million, compared to $573 million reported in the fourth quarter of 2016. For the [...]
Cleveland-Cliffs Inc. today said it is addressing inaccurate media reports related to its real estate interests located in Itasca County west of Nashwauk, Minnesota, as well as recent activities the Company performed on its own site. Cleveland-Cliffs objects to such inaccurate information and is providing the following facts about its recent [...]
Cleveland-Cliffs Inc. today said it will be announcing fourth-quarter and full-year 2017 financial results before the U.S.-market open on Thursday, January 25, 2018. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results. When: Thursday [...]
