EXTENDING LIFE OF MINE IS MAJOR ISSUE FACING HOURLY, SALARIED EMPLOYEES, MANAGEMENT
Source: www.virginiamn.com
ArcelorMittal USA, the majority owner in the 8.0 million ton per year Hibbing Taconite iron ore pellet facility in Minnesota, has begun planning process to assume management of the facility. ArcelorMittal will officially take over from longtime manager Cleveland-Cliffs on August 12, 2019. According to ArcelorMittal, no significant changes in terms of production volumes or operating plans will occur. Although the 650 steelworkers currently working at the facility are worried about the transition, a bigger issue for them is the life of mine as current reserves will run out in Q1 2025 which could result in cutbacks starting 2023. ArcelorMittal confirmed it is addressing the mine life issue, making efforts to ensure the long-term supply of iron ore from Hibbing Taconite to its key operations in the U.S.
