greatlakesshipwatchers.com

If you're new here, you may want to subscribe to our RSS feed. Thanks for visiting!

Source: Trading Markets

Cleveland-Cliffs Inc announced today that its Tilden Mine near Ishpeming, Mich., has been certified compliant to the ISO 14001 standard for Environmental Management Systems.

Tilden was awarded the certification following a rigorous third party review of its operations, personnel and programs.

..The Tilden Mine is the second of Cliffs’ operations to achieve ISO 14001 certification, as its Northshore mining and power generation operations, located in Silver Bay and Babbitt, Minn., achieved certification in 2004. The Company expects that all of its domestic operations will achieve ISO 14001 certification in the near future.

Read the full announcement, details and quotes at Trading Markets >>

Peter Passi | Source: Duluth News Tribune

Cleveland-Cliffs Inc. plans to build a plant near Orr that produces biomass fuel for its taconite operations.

The project, announced at a press conference this morning at the Orr City Hall, is expected to directly create jobs for about 25 people, with an annual payroll of more than $1 million. It also would provide additional work and revenue for loggers, suppliers, vendors and farmers in the area.

The proposed $15 million, 100,000-square-foot facility would be located four miles north of Orr in the small town of Cusson.

Read the full story at the Duluth News Tribune >>

Source: Duluth News Tribune

Cleveland-Cliffs Inc. plans to make “an exciting news announcement” Wednesday morning in Orr, according to a media notice it issued late last week. However, the company remains mum about the nature of its announcement, stating: “No further details will be provided in advance.”

Overview of CCI’s recent local expansions and investments at the Duluth News Tribune >>

Source: Duluth News Tribune

A Monday morning strike at some Iron Range mines was averted after a last-minute deal Sunday night.

Cleveland-Cliffs Inc. sent out a notice at 9 p.m. Sunday announcing a tentative four-year agreement with the United Steelworkers.

The new contract covers approximately 2,300 workers at United Taconite Co. in Eveleth, Hibbing Taconite Co. in Hibbing, and Empire and Tilden mines in Michigan.

Read the full story at the Duluth News Tribune >>

Peter Passi and Patrick Garmoe | Source: Duluth News Tribune

Cleveland-Cliffs Inc.’s $10 billion plan to purchase Alpha Natural Resources could be in danger of falling apart, due largely to the activities of a hedge fund led by Chisholm native Phil Falcone.

Falcone manages Harbinger Capital Partners, a New York-based hedge fund known for playing an active role in forcing change upon the companies in which it invests.

The fund has publicly opposed the Alpha purchase, and Falcone has suggested shareholders might instead be better served by the outright sale of Cleveland-Cliffs to another company.

With a 15.6 percent stake in Cleveland-Cliffs, Harbinger is the company’s largest single shareholder. And it’s looking to buy up more stock.

Read the full story at the Duluth News Tribune >>

Peter Passi | Source: Duluth News-Tribune

Cleveland-Cliffs Inc. announced Tuesday plans to invest $104 million at United Taconite in Forbes, boosting the plant’s production by 13 percent — or 700,000 tons annually — and creating 24 new jobs.

Cleveland-Cliffs believes it can cut overall emissions of pollutants while simultaneously increasing its pellet output, thanks in large part to renewable fuels it plans to produce on the Iron Range.

… According to the company, its initiative would:

• Reduce sulfur dioxide, nitrogen oxides and particulate matter emissions per ton of pellets produced by 37 percent.
• Reduce greenhouse gas emissions per ton of pellets produced by up to 30 percent.
• Reduce mercury emissions per ton of pellets produced by 14 percent.
• Capture more than 99 percent of particulate emissions from Line 1 following the replacement of existing control equipment with a new wet scrubber.

… The proposed upgrades also would allow UTAC to use Renewafuel, a proprietary carbon-neutral biofuel that produces substantially lower greenhouse gas, sulfur dioxide, and mercury than fossil fuels. Cleveland-Cliffs recently became a 70 percent owner in Renewafuel and hopes to use the biofuel in its mining operations.

Eventually, Renewafuel could supply up to half of UTAC’s energy needs, according to Cleveland-Cliffs.

Read the full story at the Duluth News-Tribune >>

By Jason Simpkins | Source: Money Morning

The recent buyout of Alpha Natural Resources Inc. (ANR) by Cleveland Cliffs Inc. (CLF) could ignite more than $50 billion worth of M&A deals in the U.S. coal industry over the next few years as Mainland China rushes to solve a major energy shortfall.

“In the next 12 months there will be an unprecedented amount of both domestic and cross-border mergers and acquisitions,” Wilbur Ross, chairman of International Coal Group Inc. (ICO), told Bloomberg News. “U.S. reserves are undervalued relative to those in the rest of the world.”

Ross, the billionaire investor who helped consolidate the U.S. coal and steel industries, considers this the start of a round of mergers that will prove Cleveland-Cliffs prescient in its Alpha bid.

The top eight U.S. coal producers, which are worth more than $50 billion, are possible takeover targets for a country desperate for resources. And compared with China, American coal companies are bargains.

Full detailed story at Money Morning >>

Related: Cleveland-Cliffs shareholder unhappy with Alpha deal - Reuters UK

By Yana Morris and Michael Ross | Source: FT.com/dealReporter

Prior to announcing a sale to Cleveland-Cliffs (CLF) on Wednesday, Alpha Natural Resources (ANR) had been holding informal discussions with two foreign companies since the beginning of the year, a source close to the deal, but not close to the foreign companies, told dealReporter. ArcelorMittal was understood to be one of these companies.

On Thursday Harbinger Capital Partners, Cleveland-Cliffs’ largest shareholder with a 18.36% stake, announced it was opposed to the deal.

Given the two-thirds vote needed from Cleveland-Cliffs shareholders to approve the deal, Harbinger may have a good chance of swaying an outcome.

A long-term ANR shareholder commented that CLF’s price was insufficient. It was his opinion that ANR’s consensus numbers underestimate the company’s true potential, and that the target would be getting the short end of the stick if the deal with CLF is culminated.

Whether the deal goes through or not, the source contended that the greater issue at hand is the destiny of CLF, given the stringent conditions to the closing of its ANR purchase and the fact that its line of business is in hot demand for global steel producers.

Read the full story at FT.com >>

by Sam Eggleston | Source: Mining Journal

ISHPEMING - The merger between Cleveland Cliffs Inc. and Alpha Natural Resources announced Wednesday morning isn’t expected to affect operations at the Tilden and Empire mines - or the planned surge in pellet production.

The two iron ore mines, both operated by CCI, will continue with full-scale production. Recently announced plans for a nugget-producing facility, a $500 million capital investment and increased production at the Empire Mine will all move forward, said Dale Hemmila, the district manager of public affairs for CCI.

“Nothing is going to change in our production and all of the plans that have been announced are going to progress as expected,” Hemmila said. “It’s going to be business as usual around here.”

Hemmila said there are no plans to interrupt the the investment into the Empire Mine or the expected increase of 375 new full-time jobs and increased pellet production that will come from it.

More details about the Cliffs-ANR merger at the Mining Journal >>

Source: Marketwatch

Cleveland-Cliffs Inc today announced that it has acquired United Mining Co. Ltd.’s 30% interest in United Taconite (UTAC), an iron ore mining and pelletizing operation located in Eveleth, Minn. Cliffs previously owned a 70% interest in the joint venture and after completing the purchase now has 100% ownership.

United Taconite is expected to produce 5.2 million tons in 2008 and at Dec. 31, 2007 had proven reserves of 133 million tons.

[The purchase was made with a] mix of cash, stock and iron ore pellets. The total includes $100 million in cash and 1,529,619 Cleveland-Cliffs common shares. In addition, the transaction includes a provision to supply 1.2 million tons of iron ore pellets over the next five quarters at no cost.

Read the full press release at Marketwatch >>

By CHRISTOPHER DIEM | Source: Mining Journal

Cleveland Cliffs Inc. will invest $500 million dollars to increase pellet production at the Empire and Tilden mines - adding 375 new employees and extending the life of the Empire Mine until 2018.

Continued operations at the Empire Mine, which faced potential closure in 2011, will protect 550 current jobs. In addition, production at the Tilden Mine will be maximized, resulting in an annual pellet production capacity of about 13 million tons next year.

Read the full story at the Mining Journal >>

By SAM EGGLESTON | Source: Mining Journal

NEGAUNEE — When can land over abandoned mine shafts be considered safe?

… Marquette County’s mine inspector said time is the answer.

“If there’s going to be sinking and settling of the land, it’s usually within the first 15 or 20 years,” Mine Inspector John Carlson said. “Most of the land that CCI had closed off was never really in that much danger of caving in.”

“Anything that is still a hazard is closed off to the public,” Carlson said. “There is fencing around any of the open pit areas and where the ground is still considered likely to sink.”

One of the reasons the grounds were closed off in the first place was fear of cave-ins in the city of Negaunee. One area, known as “Old Towne,” was once home to a thriving part of the city. When the ground was recognized as unstable, the residents were asked to take their belongings — including their homes — and move. That area has been reopened to the public and the foundations, steps and sidewalks of the former neighborhood are still visible.

Very interesting story at the Mining Journal >>

Source: CCI

CLEVELAND - Cleveland-Cliffs Inc has announced that William Brake, Cliffs’ executive vice president—Cliffs Metallics and chief technical officer, has been named chairman of Renewafuel, LLC, effective immediately.

Cliffs acquired controlling interest in Renewafuel in late 2007 and, earlier this month, announced the planned construction of a 150,000 ton per annum facility in Marquette, Mich. The facility will produce high-energy, low-emission biofuel cubes made from renewable and consistently available components such as corn stalks, switch grass, grains, soybean and oat hulls, wood and wood byproducts. The biofuel will be used in Cliffs’ iron ore mining and processing operations as well as in other industries in Minnesota, Michigan and other Midwest states. Production is scheduled to begin in 2009.

Peter Passi | Source: Duluth News Tribune

In mid-March, Northshore restarted Furnace No. 5 — a piece of equipment that last produced pellets more than a quarter century ago.

“We’ve shaken out a lot of the start-up bugs now, and it’s running well,” said Scott Gischia, Northshore’s manager of environmental services. “We’re seeing good production rates and good quality.”

The rejuvenated line brought 30 additional jobs to Northshore, which now employs 549 people.

The furnace also will boost Northshore’s annual production capacity by about 800,000 tons. That’s an increase equivalent to 13.6 percent of the plant’s total production in 2007.

“This shows us the commitment that Cleveland Cliffs is making to Northshore Mining and the community,” said Silver Bay Mayor Scott Johnson. “It means more jobs and more stability for our local economy.”

Read about the comeback investments and efforts at the Duluth News Tribune >>

Source: Cleveland-Cliffs, Inc.

CLEVELAND — “We are happy to announce our first commercial-scale facility for Renewafuel,” said Dana Byrne, Cliffs’ vice president of public and environmental affairs. “Cooperation with the Michigan Department of Agriculture, Marquette County, the Michigan Economic Development Corporation, Telkite Technology Park and the Marquette Board of Light and Power helped make this happen, and we appreciate the efforts of their representatives.”

“We are excited to be a part of this tremendous economic development opportunity for both the Marquette area and Michigan’s growing renewable energy industry,” said Don Koivisto, director of the Michigan Department of Agriculture. “Renewafuel’s investment demonstrates that Michigan is a state ripe with possibilities for alternative energy development.”

Renewafuel’s biofuel cubes generate about the same amount of energy as coal from the Western United States; however, the cubes emit 90 percent less sulfur dioxide, 35 percent less particulate matter and 30 percent less acid gases than coal. The cubes are made from feedstocks that are considered biogenic carbon, and will not add to atmospheric concentrations of carbon dioxide. Because of their size and density, the cubes can be used in most solid fuel systems with little or no modifications required.

At full production, Renewafuel will produce approximately 60,000 tons of biomass fuel cubes for the steam plant of Marquette Board of Light and Power, as well as replace a portion of coal used at Cliffs’ two nearby Michigan iron ore mines as process fuel for kilns used to harden iron ore pellets. Cliffs indicated the capital cost for the facility would be approximately $10 million.

Read the full release at Business Wire >>

Naomi Powell | Source: The Hamilton Spectator

U.S. Steel Canada says it will “vigorously defend itself” against ArcelorMittal Dofasco in a legal dispute over the Wabush iron ore venture.

In documents filed with the U.S. Securities and Exchange Commission, U.S. Steel Canada said it “does not believe it has any liability to Dofasco regarding this matter.”

Dofasco is suing U.S. Steel Canada (formerly Stelco) and Ohio’s Cleveland Cliffs Inc. over claims they unfairly pulled out of a deal to sell their 71.4 per cent stake in the mine.

Though ArcelorMittal Dofasco says the partners forged a “binding agreement” at the end of August, U.S. Steel says the deal was not binding.

Read the full story, claims at the Hamilton Spectator >>