Cleveland-Cliffs Gains Minnesota Executive Council Approval of Iron Ore Mineral Leases at Nashwauk
Retrieved on:
Thursday, May 25, 2023
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Cleveland-Cliffs Inc. (NYSE: CLF) 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.
Key Points:
- Cleveland-Cliffs Inc. (NYSE: CLF) 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 Executive Officer, Lourenco Goncalves, stated, “Today’s approval of these leases by the Minnesota Executive Council resolves years of uncertainty regarding Hibbing Taconite’s mine life.
- Cleveland-Cliffs will immediately begin the work necessary to develop this quality ore body as an extension of Hibbing Taconite.