Asset Report
Northshore iron ore mine
Report summary
Northshore is a surface mine owned and operated by Cleveland-Cliffs located in the northeastern end of Minnesota's Mesabi Iron Range, approximately 3 kilometres south of the city of Babbitt. The operation produces BF and DR pellets which are entirely transferred to Cliffs' steel mills and the company's HBI plant in Toledo, Ohio. In September 2020, Cleveland-Cliffs acquired ArcelorMittal USA for US$1.4 billion. Prior to that, in December 2019, Cliffs had purchased AK Steel for US$1.1 billion. Both acquisitions not only give rise to US' largest flats producer, but are also poised to fundamentally change pellet price systems within the new conglomerate. Northshore's output is expected to fall by 52% in 2022, as a result of increased scrap usage and reduced demand for iron ore pellets in Cliffs' steelmaking operations. Northshore mining and pelletizing facility has been temporarily idled in 2Q22, and it is anticipated that the Northshore mine will restart no earlier than the 2Q23.
Table of contents
- Summary
- Key issues
- Emissions
Tables and charts
This report includes 13 images and tables including:
- Northshore Emission Intensity Quartile Ranking - Total global production - Tonnes of ore
- Detail Map
- Participation
- Marketable reserves (at 01/01/22)
- Production
- Production
- Operations
- Infrastructure
- Cash cost
- Cash cost
- Capital cost
- Product quality
- Economic assumptions
What's included
This report contains:
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