Cleveland-Cliffs Inc.

Cleveland-Cliffs Inc. mourns the loss of USW International President, Tom Conway. Lourenco Goncalves, Cleveland-Cliffs' Chairman, President and Chief Executive Officer stated: "I came to regard Tom Conway as a personal friend and trusted business partner, with whom I shared a steadfast belief in the bright future of the American industry. Tom [...]

Cleveland-Cliffs Inc. announced today that its employees represented by the United Steelworkers 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. About Cleveland-Cliffs Inc. Cleveland-Cliffs is the largest [...]

Cleveland-Cliffs Inc. today reported second-quarter results for the period ended June 30, 2023. Selected financial results for the second quarter of 2023 include: Revenues of $6.0 billion Steel shipments of 4.2 million net tons Net income of $356 million Adjusted EBITDA1 of $775 million Cash flow from operations of $887 million Free cash flow2 of [...]

Cleveland-Cliffs Inc. will announce its second-quarter 2023 earnings results after the U.S. market close on Monday, July 24, 2023. 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 on Tuesday, July 25, 2023, at 8:30 am ET. The call [...]

Cleveland-Cliffs Inc. 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. About Cleveland-Cliffs Inc. Cleveland-Cliffs [...]

Cleveland-Cliffs Inc. announced today that it has successfully amended and extended its asset-based lending credit facility . 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 [...]

Cleveland-Cliffs Inc. 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 [...]

Cleveland-Cliffs Inc. 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. Cleveland-Cliffs' Chairman, President and Chief [...]

Cleveland-Cliffs Inc. announced today that it has successfully completed a hydrogen injection trial at its Middletown Works blast furnace. This groundbreaking introduction of hydrogen gas as an iron reducing agent in the blast furnace is the first ever use of this carbon friendly technology in the Americas region. The successful use of hydrogen gas [...]

Cleveland-Cliffs Inc. announced today that its employees represented by the International Association of Machinists and Aerospace Workers Local 1943 at its Middletown Works steelmaking plant ratified a new 4-year labor agreement. The new agreement is effective on May 15, 2023, and covers approximately 2,100 hourly employees. Lourenco Goncalves [...]