CC Q&A was largely devoted to plans for CLF's HBI plant in Toledo. LG said CLF would consider taking on a passive financial partner, but CLF does not need a partner to complete the project for a mid-2020 startup.
LG said the operating margin on pellets produced at Toledo will be 2-2.5x(!) the margin CLF currently gets on its USIO production. No other company makes DRI pellets in the Great Lakes region, so the demand for these pellets is assured.
The timing of cap-ex for the new plant is expected to be 15% in 2017, 35% in 2018, and 50% in 2019.
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