Cleveland-Cliffs Inc. (CLF), formerly known as Cliffs Natural Resources, is a leading mining and natural resources company that has been operating in the United States since its establishment in 1847. Headquartered in Cleveland, Ohio, CLF is the largest flat-rolled steel producer and the biggest supplier of iron ore pellets in North America.
Cleveland-Cliffs has built a significant leadership position in the iron ore industry with its robust portfolio of world-class mining operations. It owns and operates iron ore mines in Michigan and Minnesota, boasting an annual rated capacity of 32.9 million gross tons of iron pellets. These mines provide a stable supply of high-quality iron ore to the integrated steel industry in the United States.
The company is also known for its innovative direct reduction-grade pellets that provide all benefits related to the most advanced DR-grade pellet technology available, a product highly desirable for electric arc furnace steel producers. CLF’s business scope extends to coke making, which is critical in the production of pig iron, a key iron-making raw material.
CLF’s commitment to sustainable mining benefits the economy, with revenue generation of approximately $2 billion annually. The company operates with a focus on minimizing its environmental impact and contributes substantially to US domestic steel manufacturing capabilities, thus reducing reliance on imported steel.
In recent years, Cleveland-Cliffs has expanded its operations beyond purely mining. Today, it has a significant stake in the steel industry too. In December 2020, the company completed the acquisition of ArcelorMittal USA LLC and its subsidiaries, thus solidifying its position in steel production.
The company's ambition to deliver value for its customers, employees, and shareholders is reflected in its mission to maintain operational excellence through the adoption of innovative practices and growing responsibly with focus on sustainable methods that reduce the environmental footprint.
Despite various market challenges and the ever-changing mining industry landscape, Cleveland-Cliffs continues to lead and adapt, remaining at the forefront of the iron ore mining industry. It has proven resilience through its ability to leverage the scale and quality of its assets to drive sustainable profitability, demonstrating CLF’s commitment to playing a crucial role in America’s infrastructure and national defense. Its innovative strategy, a result of years of technical knowledge and experience in the mining and steel industries, enables the company to stay competitive in a global marketplace.