Cleveland-Cliffs Inc.

Cleveland-Cliffs Inc. today reported first-quarter results for the period ended March 31, 2020. On March 13, 2020, Cleveland-Cliffs completed the acquisition of AK Steel Holding Corporation . The results set forth in this release only consider the operating results of AK Steel for the period from March 13, 2020 through March 31, 2020. The acquisition of AK Steel has transformed Cleveland-Cliffs into a vertically [...]

Cleveland-Cliffs Inc. announced today it will be reporting first-quarter 2020 financial results before the U.S.-market open on Monday, May 11, 2020. 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. When: Monday, May 11, 2020, at 10:00 a.m. ET Hosts: Lourenco Goncalves, Chairman, President and Chief [...]

Cleveland-Cliffs Inc. today announced that it has offered and priced an additional $555.2 million aggregate principal amount of Senior Secured Notes due 2025 at a price of 99% of their principal amount in an offering that is exempt from the registration requirements of the Securities Act of 1933 . The Additional Notes will be an issuance of Cliffs’ existing 9.875% Senior Secured Notes due 2025 and will be issued as [...]

Cleveland-Cliffs Inc. announced today that it has priced $400 million aggregate principal amount of Senior Secured Notes due 2025 in an offering that is exempt from the registration requirements of the Securities Act of 1933 . The Notes will bear interest at an annual rate of 9.875% and will be issued at a price of 94.500% of their principal amount. The Notes will be guaranteed on a senior secured basis by Cliffs [...]

Cleveland-Cliffs Inc. today announced that it intends to offer to sell, subject to market and other conditions, $400 million aggregate principal amount of Senior Secured Notes due 2025 in an offering that is exempt from the registration requirements of the Securities Act of 1933 . The Notes will be guaranteed on a senior secured basis by Cliffs’ material wholly owned domestic subsidiaries , and secured by a first-priority [...]

Cleveland-Cliffs Inc. today provided the following company update. Cliffs’ Chairman, President, and Chief Executive Officer Lourenco Goncalves said, “The constantly evolving COVID-19 situation has been an ongoing backdrop for the actions we have taken to keep our employees and our Company healthy for the long term. With these goals in mind, we have made several adjustments to our operating profile and workplace safety [...]

Cleveland-Cliffs Inc. announced today that based on current market conditions, the Company will be temporarily idling production at two of its iron ore mining operations, Northshore Mining in Minnesota and Tilden Mine in Michigan. Cleveland-Cliffs stated that it will work down current inventory levels from these two operations and will continue to ship iron ore to fulfill its commercial agreements with steel customers [...]

Cleveland-Cliffs Inc. today announced a change in the format of its 2020 Annual Meeting of Shareholders from in-person to virtual-only. Due to the emerging public health impact of the coronavirus pandemic and to support the health and well-being of the Company?s shareholders, employees and their families, the Company will hold the Annual Meeting in a virtual meeting format only, via live audio webcast. As previously [...]

Cleveland-Cliffs Inc. stated today that it commends Governor Dewine and his administration for their strong leadership and decisive action to implement the ‘stay at home or place of residence’ order for the preservation of public health across the State of Ohio in response to COVID-19. Lourenco Goncalves, Chairman, President and Chief Executive Officer said, “I am pleased that this order recognizes the [...]

Cleveland-Cliffs Inc. announced today, following guidelines from the office of the Governor of Ohio regarding COVID-19 virus concerns, the Company is temporarily shutting down construction activities at its hot-briquetted iron project site in Toledo, Ohio. Effective March 20th, all construction activity at the site will cease by the end of the business day. Cleveland-Cliffs will continue to monitor the COVID-19 situation [...]