Cliffs to Restart Iron Ore Pellet Production at Northshore Mine

Cliffs Natural Resources Inc. (NYSE:CLF) announced plans to restart iron ore pellet production at its Minnesota-based Northshore mining operation by May 15, 2016. The operation is made up of a mine and taconite pellet producing facility and employs about 540 people.
As quoted in the press release:

The Company is taking such action based on its domestic customers’ demand for iron ore pellets and consistent with its previously announced production plans for the year.

Lourenco Goncalves, president, CEO and chairman of Cliffs, commented:

The avalanche of unfairly traded steel hitting the U.S. since last year negatively affected our clients’ production levels and, as a consequence, affected us. At this time, with the trade cases approaching their final stages and preliminary duties being announced, the volume of unfairly traded steel is starting to subside. As our clients’ order books improve and their need for pellets approach more normal levels, we are pleased to announce that we are bringing back to work our dedicated employees at Northshore. In 2015, Cliffs developed at Northshore Mining a new product, the DR-grade pellets used as feedstock to DRI production. As we restart operations at Northshore in May, we will also resume the production of DR-grade pellets destined to EAF clients.

Click here to read the full Cliffs Natural Resources Inc. (NYSE:CLF) press release.