October 4 -- Rep. Rick Nolan Named “Steel Champion” by Cliffs and AISI

(Pictured, L-R): Frank Jenko, United Steel Workers Local 2705 President; Lourenco Goncalves, Cliffs Chairman, President and CEO; Representative Rick Nolan (D-MN); Jonathan Holmes, Vice President and Operations Manager, ArcelorMittal Minorca Mine; and Thomas J. Gibson, President and CEO, American Iron and Steel Institute

Cliffs Natural Resources Inc. and the American Iron and Steel Institute today jointly announced that U.S. Representative Rick Nolan (D-MN) was honored with the “2016 Congressional Steel Champion Award” from the American Iron and Steel Institute (AISI). The award recognizes Rep. Nolan for his dedication to and support of the American steel industry and its employees.

Lourenco Goncalves, Cliffs’ Chairman, President and CEO, and Thomas J. Gibson, AISI President and CEO, presented the award at a gathering of Cliffs’ employees at Hibbing Taconite mine in Hibbing, MN.

“What an honor to receive this Steel Champion award from the American Iron and Steel Institute,” Nolan said. “We’ve been fighting hard in Washington to support and protect Minnesota’s workers in the iron ore and steel industries. The progress we’ve made is due to numerous appeals to the White House, the Commerce Department and the International Trade Commission to bring the hammer down on illegal steel imports that devastated the Iron Range economy. Thanks to cripplingly high new tariffs and taxes, Range iron ore prices are up, steel imports are down, and the glut of foreign steel is disappearing. America’s steel industry – the foundation of our economic and military security – is on the rebound.”

In presenting the award, Goncalves said, “Congressman Nolan was instrumental in focusing the attention of the White House on the steel import crisis. Over the past two years, the American steel industry has been under attack from record levels of illegally dumped steel imports, resulting in hardships for the companies and workers of the iron ore and steel sectors. In recognition of these challenges, Congressman Nolan has fought for aggressive enforcement of our trade laws to combat these illegal imports in order to protect mining jobs on the Iron Range and to preserve our all-important domestic steel industry. Rick Nolan has used his political stature to bring White House officials to the Iron Range to see first-hand the devastation caused by illegal steel dumping. We are grateful for the Congressman’s leadership on this, and so many other issues. This award today is much-deserved, and we look forward to continuing our strong partnership with Congressman Nolan and Minnesota’s congressional delegation.”

Archived Presentations

Cliffs/WEC Energy Agreement Press Conference August 19, 2016

Cliffs Chairman, President & CEO Lourenco Goncalves joined Michigan Governor Rick Snyder and other energy officials for a press conference about the recently-announced energy agreement between Cliffs and WEC Energy Group to provide its Tilden Mine with a long-term, reliable and affordable source of electrical power in Michigan.

The new 20-year energy agreement will support two natural gas engine power plants in the Upper Penninsula of Michigan. These plants are expected to be built by mid-2019 and will replace the coal-fired Presque Isle Power Plant.

The news release detailing the agreement is available online.

Cliffs Announces New Energy Agreement with WEC Energy Group August 15, 2016

Cliffs has entered into a new 20-year energy agreement with WEC Energy Group to provide its Tilden mine with a long-term, reliable and affordable source of electrical power in Michigan.

This agreement will provide Tilden with a clean, cost-effective and highly efficient energy generating capacity solution and also resolve the long-term energy reliability issues facing the residents in Upper Peninsula of Michigan.

With WEC Energy Group’s investment in new electric power generation in the region, there will be tangible benefits for U.P. residents of a more cost-effective energy future, negating the possibility of a future System Support Resource (SSR) related to the operation of the Presque Isle Power Plant.

The complete news release is available online.

United Taconite Project Mustang Pellet Plant Groundbreaking August 11, 2016

Cliffs Natural Resources held a groundbreaking ceremony at United Taconite to celebrate the future production of a superflux Mustang pellet for the Company’s largest customer, ArcelorMittal. Cliffs is investing in building new assets to support the customized iron ore pellet, including a storage facility, new silos, a limestone crusher and new conveyors.

The project will take approximately eight months and involve an estimated 200,000 hours of labor during construction. Cliffs is on track to deliver the Mustang pellets to ArcelorMittal starting next year.

Shown in picture (l-r): UTAC General Manager Santi Romani, Congressman Rick Nolan, Cliffs Chairman, President & CEO Lourenco Goncalves, Minnesota Governor Mark Dayton, USW Local 6860 President Brian Zarn, and EVP, USIO Terry Fedor.

Cliffs Comments on Nashwauk Mine Site July 7, 2016

Cliffs Chairman, President & CEO Lourenco Goncalves has issued a media statement regarding MN Gov. Mark Dayton’s Statement on Essar Steel Minnesota, and the State of Minnesota's termination of Essar Steel Minnesota's mineral leases associated with the Nashwauk, MN mine site:

"I am pleased that Minnesota Governor Mark Dayton has moved to terminate the State's existing agreement for the iron ore mineral leases at the Nashwauk mine site. This is the first step in a long-term development process that we believe holds tremendous potential for job creation on the Iron Range."

Mr. Goncalves continued: "Cliffs looks forward to the opportunity to work in partnership with Governor Dayton's administration to develop the Nashwauk site as part of our future growth plans toward the production of value-added iron products in Minnesota."

The statement is available in the “News” section of our website.

Cliffs CEO on CNBC: China is biggest problem for steel oversupply May 20, 2016

Despite China signaling moves to cut its excess steel production capacity, industry chiefs say the country has declared a metals "war" that has had a "devastating" impact for the rest of the world's industry. Cliffs CEO, Lourenco Goncalves, explains to CNBC why it's time to take action on the glut in the steel market.

Watch the interview on CNBC.

Steel's Resolve: Overcoming the Excess May 18, 2016

Cliffs CEO Lourenco Goncalves joined executives from six steel giants as a panelist for AISTech's Town Hall Forum as part of a weeklong conference sponsored by the Association for Iron and Steel Technology. During "Steel's Resolve: Overcoming the Excess," the executives explored the challenges — and discussed the opportunities — that lie ahead for the domestic steel industry. The global steel industry was challenged by excess capacity, excess production and excess imports in 2015. Despite a recovering construction market and a record year for auto sales, the headwinds buffeted steel producers.

Learn more about the conference and these issues at AIST’s website.  You can also watch the town hall forum online -- registration is required to view the video

North American Steel Industry CEOs Discuss Policy and Market Issues at AISI Annual Meeting May 6, 2016

Lourenco Goncalves and seven other North American steel company executives, members of the American Iron and Steel Institute Board of Directors, spoke to the media on May 2 about the state of the steel industry, steel industry job impacts, China’s efforts to gain market economy status and developments in the auto market.

Sen Klobuchar Tours Reopened Northshore Mining May 6, 2016

Minnesota Sen Amy Klobuchar met with workers and company leadership at Cliffs’ Northshore Mining, which was recently reopened after having been idled in December. Klobuchar toured the facility and met with workers now back on the job. More than 400 workers at Cliffs Natural Resources ‘ Northshore Mining are back to work this week – Northshore’s facilities in Silver Bay and Babbitt are expected to be fully staffed by early next week.

Cliffs Addresses Global Steel Overcapacity April 12, 2016

Cliffs CEO Lourenco Goncalves recently provided testimony to the office of the U.S. Trade Representative and U.S. Department of Commerce's Public Hearing on the Global Steel Industry Situation and its Impact on the U.S. Steel Industry and Market. Mr. Goncalves spoke of the need to address unfairly traded steel imports entering the U.S., as well as the global overproduction of steel and iron ore.

A video and written transcript of his testimony are available online.

Transcripts from other panel attendees, including representatives from Congress, steel industry executives and the United Steelworkers, are available on AISI’s website.

Global Iron and Steel Outlook August 1, 2015

Chairman, President & CEO Lourenco Goncalves delivered the keynote address to industry professionals at the AISTech 2015 President's Award Breakfast, providing an overview of the factors influencing the current pricing environment for iron ore.

A transcript of his "Global Iron and Steel Outlook" address is featured in the August issue of Iron and Steel Technology magazine, available for download in the "Publications" section of the Association for Iron & Steel Technology's website.

Steel Success Strategies Keynote June 26, 2015

Lourenco Goncalves, Chairman, President & CEO of Cliffs Natural Resources, presented the keynote speech at the Steel Success Strategies XXX industry conference held in New York City on June 10, 2015. Mr. Goncalves provides an overview of the global iron ore and steel markets, and explains how Australian miners and low seaborne iron ore pricing are connected to the cheap steel imports flooding the U.S. market.

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