Asset Report
United iron ore mine
Report summary
United is a surface mine owned and operated by Cleveland-Cliffs located in Minnesota's Mesabi Iron Range, near the city of Eveleth. Output from the operation is a 65%-Fe pellet product which is transferred to Cliffs' steel mills. In September 2020, Cleveland-Cliffs acquired ArcelorMittal’s operations in the US for approximately 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. United's output is set to fall more than 25% in 2022 amid higher scrap utilisation and the associated lower pellet demand. On the cost front, United's C1 direct cash cost is expected to increase by almost 11% in 2022, mainly due to lower fixed costs dilution and inflationary pressures.
Table of contents
- Summary
- Key issues
-
Emissions
- Economic assumptions
Tables and charts
This report includes 13 images and tables including:
- United 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
What's included
This report contains:
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