Tag: Cleveland-Cliffs

BusinessManufacturing

Cleveland-Cliffs Executives Report Strong Steel Market Recovery Led by Automotive Sector

Cleveland-Cliffs executives report a substantial recovery in domestic steel demand, particularly from automotive customers. The company’s financial leaders point to changing user behavior following trade measures and have secured significant property sales.

Steel Manufacturer Reports Market Improvement

Executives at Cleveland-Cliffs, a major player in American steelmaking, have indicated they are witnessing what they describe as a significant rebound in domestic steel demand. According to reports from the company’s third-quarter earnings discussion, this recovery appears to be gaining momentum several months after the implementation of new trade measures.

by Priya Kapoor
BusinessMining

Cleveland-Cliffs Explores Rare Earth Mining Venture, Shares Surge on Strategic Shift

Cleveland-Cliffs is reportedly investigating rare earth mining opportunities at sites in Michigan and Minnesota. The steelmaker’s shares jumped approximately 17% following the announcement. This strategic move could support U.S. efforts to reduce dependence on foreign critical minerals.

Strategic Expansion into Critical Minerals

Cleveland-Cliffs Inc., a major American steel mill operator, is reportedly exploring the development of a rare earth mining business, according to statements from company leadership. CEO Lourenco Goncalves informed investors Monday that geological surveys at two company-owned sites in Michigan and Minnesota have revealed indications of rare earth elements, sources indicate.

by Samuel Kim