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Wednesday, September 21, 2016 8:48:39 PM
LC intends on putting 5 DRI pellet plants in operation around the Great Lakes while also adding additional taconite pellet plants beginning in MN that will put an additional 250 people back to work getting Gov Dayton's approval on Cliffs acquiring bankrupt Essar Steels defunct mining leases.
AK Steels partner Magnetation just went BK who supported their pellet operation and mining activity for Indiana blast furnaces operated in partnership by AK Steel. AK Steel, still needs supply.
There is no other company in competition with Cliffs as nobody can handle any size load or demand.
Cliffs is going all in on supplying DRI grade pellets to the electric arc blast furnaces by expanding operations and enriching the pellet process to electric arc DRI grade and standards.
The steel industry as a whole is now 40% coal fired or crude steel and 60% electric arc. 5 years ago it was the exact opposite.
Electric arc is the direction the industry has been and will continue to go and Lorenco Gonclaves will already be there with absolutely no competition ready to deliver DRI grade pellets on demand.
This CEO has it going on and the promise is real.
Recent CLF News
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