Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Back to $20 by July. IMO
Cleveland-Cliffs Ranked #170 on Fortune 500 list for 2023
Source: Business Wire
Cleveland-Cliffs Inc. (NYSE: CLF) announced today that it was named to the Fortune 500 list, once again among the top 200 companies. Cleveland-Cliffs’ 2022 revenue of $23 billion earned Cleveland-Cliffs the ranking of 170 on the list for 2023. The Fortune 500 list ranks companies that are incorporated and operate in the U.S. by total revenues for their respective fiscal years.
Lourenco Goncalves, Cleveland-Cliffs’ Chairman, President, and CEO said, “Once again, Cleveland-Cliffs is among the top 200 companies on Fortune list, at this time as #170. As we grow and climb higher on Fortune’s rank, we continue to demonstrate our ability to outperform ourselves year after year.” Mr. Goncalves added: “The main key to our success is our workforce of 27,000 employees, and we thank each one of our employees for their great work and their sense of common purpose. We also thank our Union partners for working hard with us to make Cleveland-Cliffs the great company we are today and will certainly be in the future.”
To view Cleveland-Cliffs’ company profile on Fortune 500 and the interview with Lourenco Goncalves done by the CEO of Fortune, Alan Murray, please visit the website at https://fortune.com/company/cleveland-cliffs/.
FORTUNE 500 Methodology:
Companies are ranked by total revenues for their respective fiscal years. Included in the survey are companies that are incorporated in the U.S. and operate in the U.S. and file financial statements with a government agency. This includes private companies and cooperatives that file a 10-K or a comparable financial statement with a government agency, and mutual insurance companies that file with state regulators. It also includes companies that file with a government agency but are owned by private companies, domestic or foreign, that do not file such financial statements. Excluded are private companies not filing with a government agency; companies incorporated outside the U.S.; and U.S. companies consolidated by other companies, domestic or foreign, that file with a government agency. Also excluded are companies that failed to report full financial statements for at least three-quarters of the current fiscal year. Percent change calculations for revenue, net income, and earnings per share are based on data as originally reported. They are not restated for mergers, acquisitions, or accounting changes. The only changes to the prior years’ data are for significant restatement due to reporting errors that require a company to file an amended 10-K.
About Cleveland-Cliffs Inc.
Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing. Cleveland-Cliffs is the largest supplier of steel to the automotive industry in North America and serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 27,000 people across its operations in the United States and Canada.
?
View source version on businesswire.com: https://www.businesswire.com/news/home/20230605005516/en/
MEDIA CONTACT:
Patricia Persico
Senior Director, Corporate Communications
(216) 694-5316
INVESTOR CONTACT:
James Kerr
Manager, Investor Relations
(216) 694-7719
Specialized Disclosure Report (sd)
Source: Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM SD
Specialized Disclosure Report
CLEVELAND-CLIFFS INC.
(Exact name of registrant as specified in its charter)
Commission File No. 1-8944
Ohio34-1464672(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)200 Public Square, Suite 3300, Cleveland, Ohio44114-2315(Address of principal executive offices)(Zip Code)
James D. GrahamExecutive Vice President, Human Resources, Chief Legal and Administrative Officer & SecretaryCleveland-Cliffs Inc.200 Public Square, Suite 3300Cleveland, Ohio 44114-2315(216) 694-5700(Name and telephone number, including area code, of the person to contact in connection with this report.)Check the appropriate box to indicate the rule pursuant to which this form is being filed, and provide the period to which the information in this form applies:
x Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, 2022.
? Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended.
Section 1 - Conflict Minerals Disclosure
Item 1.01 Conflict Minerals Disclosure and Report
This report on Form SD for the reporting period from January 1, 2022 to December 31, 2022 (the “Reporting Period”), issued pursuant to Section 13(p) of the Securities Exchange Act of 1934, as amended, Rule 13p-1 and the related rules and guidance promulgated by the Securities and Exchange Commission (collectively, the “Conflict Minerals Rules”), is submitted by Cleveland-Cliffs Inc., on behalf of itself and its consolidated subsidiaries, including its 100%-owned indirect subsidiaries, Cliffs Steel Inc., Cleveland-Cliffs Steel Corporation, Cleveland-Cliffs Steel LLC and Cleveland-Cliffs FPT Services Company (collectively, the “Company”). The purpose of this filing is to comply with the reporting and disclosure requirements related to conflict minerals as directed by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. For purposes of this report, the term “Conflict Minerals” means:
(1)Columbite-tantalite (coltan), cassiterite, gold, wolframite or their derivatives, which are limited to tantalum, tin and tungsten, unless the Secretary of State of the United States determines that additional derivatives are financing conflict in the Democratic Republic of the Congo or an adjoining country (collectively, “Covered Countries”); or
(2)Any other mineral or its derivatives determined by the Secretary of State of the United States to be financing conflict in Covered Countries.
Conflict Minerals Disclosure
Conflict Minerals are not necessary to the functionality or production of the vast majority of products manufactured by the Company. The Company’s efforts related to the identification of Conflict Minerals in its products involved cross-functional collaboration among several of the Company’s departments, including the Research and Development, Procurement and Legal departments, to review the specifications of its products and whether any Conflict Minerals were necessary to the functionality or
production of such products. In addition, the Company engaged in due diligence with respect to third-party materials purchased by the Company to determine whether the chemical composition of such materials included any Conflict Minerals. As a result of this process, the Company determined that the only Conflict Mineral necessary to the functionality or production of certain of the Company’s electrical steel grades, tinplate products and electrodeposition coating service for metal parts (collectively, the “Covered Products”) manufactured during the Reporting Period was tin.
Following this determination, the Company conducted a detailed review of the ways in which tin entered the Company’s supply chain and was used by the Company during the Reporting Period. This review established that the Company used tin in two forms during the Reporting Period: tin included in recycled or scrap metal and tin in refined forms from mined sources of tin. This Reporting Period represents the first full year following the Company’s acquisition in late 2021 of Ferrous Processing and Trading Company (“FPT”), one of the largest processors of prime scrap metal in the United States, which scrap includes post-industrial and post-consumer scrap or recycled materials that on occasion may contain Conflict Minerals. During the Reporting Period, FPT processed approximately three million net tons of scrap metal, a large portion of which was consumed by the Company’s steelmaking operations. However, because not all of the tin used by the Company in the Covered Products during the Reporting Period was from recycled or scrap sources, the Company undertook in good faith a reasonable country of origin inquiry to determine whether any of its tin originated or was processed in the Covered Countries.
The Company engaged in a thorough reasonable country of origin inquiry of its supply chain to determine the mines and smelters from which its non-scrap tin originated and the various points of custody of such tin prior to being consumed in the Company’s operations. In executing this inquiry, the Company modeled its process after the framework of the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas. Among other things, this effort included: (i) contacting suppliers from whom the Company purchased non-scrap tin or other potential tin-containing materials and discussing with such suppliers’ relevant personnel the source and chain of custody of the tin
prior to its delivery to the respective supplier and the Company; (ii) obtaining certifications or other forms of reasonable assurance from suppliers of tin or other potential tin-containing materials that the tin or other materials delivered to the Company during the Reporting Period were sourced entirely from recycled or scrap sources; (iii) requesting suppliers from whom the Company purchases non-scrap tin or other potential tin-containing materials to complete the Conflict Minerals Reporting Template of the Responsible Minerals Initiative (“RMI”), which includes disclosure as to any mine and/or smelter from which any non-scrap tin originated or was processed; and (iv) reviewing the Company’s sources of tin against the RMI’s Responsible Minerals Assurance Process (“RMAP”) list of smelters that are compliant with the RMAP’s responsible mineral sourcing validation program to determine whether the Company’s sources of tin were in compliance with the RMAP validation program.
Since the Company generally does not have direct contractual relationships with smelters and refiners, it relies on its suppliers to gather and provide specific information about the origin of any Conflict Minerals (or products containing Conflict Minerals) supplied to the Company. Following its receipt of responses from its suppliers of non-scrap tin or other potential tin-containing materials, the Company gave further guidance to any suppliers that initially provided incomplete information or company-wide information and requested that such suppliers complete an updated product-specific Conflict Minerals Reporting Template or provide an alternate reasonable form of assurance regarding the sources of any non-scrap tin or other potential tin-containing materials in their products supplied to the Company. In accordance with the Conflict Minerals Rules, the Company intends to continue to monitor and work with its suppliers proactively to verify the origin of any Conflict Minerals in its supply chain.
As a result of the Company’s review of the Covered Products, evaluation of its sources of tin and the reasonable country of origin inquiry it conducted in good faith with respect to such sources, the Company determined that, to the best of its knowledge, (a) the tin included in the Covered Products during the Reporting Period was from recycled or scrap sources or (b) the Company has no reason to believe the tin included in the Covered Products originated in the Covered Countries.
A copy of this Conflict Minerals disclosure is also available in the “Investors” section, “SEC Filings” subsection, of the Company’s website at www.clevelandcliffs.com. The content of any website referred to in this report is included for general information only and is not considered incorporated by reference in this report.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the duly authorized undersigned.
CLEVELAND-CLIFFS INC.By:/s/ James D. GrahamJames D. GrahamExecutive Vice President, Human Resources, Chief Legal and Administrative Officer & SecretaryDated: May 26, 2023
Mr. Elio got rich from a company he never produced. IMO
Exactly
They have been shorting CLF for years. IMO.
Same old genetic news with no volume, no uptick, nothing.
This company is a scam.
AISI Elects Lourenco Goncalves As New Chairman
May 15, 2023
WASHINGTON, D.C.-The American Iron and Steel Institute’s (AISI) Board of Directors today elected Lourenco Goncalves, chairman, president and CEO of Cleveland-Cliffs, Inc., to serve as chairman of the Institute for a two-year term. The election and announcement took place at AISI’s General Meeting at the InterContinental Hotel-The Wharf in Washington, D.C.
“Lourenco is a dynamic leader in the global and domestic steel industry and a vocal advocate for the industry in the public policy arena. He continues to be a tremendous representative for the American steel industry and our workers,” said Kevin Dempsey, president and CEO of AISI. “We are grateful to have such an outstanding leader serve as our chairman. I am confident that under Lourenco’s guidance and leadership, we will continue to see many successes.”
“I am honored that my fellow AISI Board members have placed their trust in me to lead the Institute. American made steel is the cleanest and most energy-efficient in the world. Our member companies continue to make significant investments in decarbonization and clean steel production, and we must work together to make this fact completely understood and accepted. We also must put an end to foreign governments’ trade-distorting policies that could undermine the progress we have made,” “After several years of giving away our strength as a country that actually makes things, we are finally seeing manufacturing coming back to America. I will continue to fight to make sure that the American steel industry remains the backbone of manufacturing in America, creating jobs and improving the quality of life of our fellow citizens.”
AISI also announced that Luca Zanotti, president of Tenaris USA, was elected as a new director on the AISI board; and Leon Topalian, chair, president and CEO of Nucor and former AISI chairman, was elected vice-chairman.
-#####-
Contact: Lisa Harrison
202.452.7115 / lharrison@steel.org
AISI serves as the voice of the American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI’s membership is comprised of integrated and electric arc furnace steelmakers, and associate members who are suppliers to or customers of the steel industry. For more news about steel and its applications, view AISI’s website at www.steel.org. Follow AISI on Facebook, LinkedIn, Twitter (@AISISteel) or Instagram.