DULUTH, Minn. The shipping industry in the twin ports has been experiencing a bounce-back year. Up nearly two percent over the five-season average, the strong season is due in part to iron ore which is up double-digit percentages. As the season winds down, the Duluth Port Authority is hoping to finish strong in the last month of the season. “Iron…
CLEVELAND, OH – Great Lakes iron ore trade was up 61.8% in July. Shipments of iron ore on the Great Lakes totaled 5.7 million tons in July, an increase of 61.8 percent compared to a year ago. Shipments were also 3.2 percent above the month’s 5-year average. Year-to-date the iron ore trade stands at 26.4 million tons, an increase of 27.6 percent compared to…
ST. LOUIS COUNTY, Minn. – Cleveland Cliffs has announced it has entered into a definitive agreement with ArcelorMittal to acquire all of the operations of ArcelorMittal and its subsidiaries. The deal is worth roughly $1.4 billion. Once the deal closes, Cleveland-Cliffs will be the largest flat-rolled steel producer in North America. The company will also be the largest iron ore…
SILVER BAY, Minn.- Cleveland-Cliffs has announced it is idling two of its iron ore plants, including Northshore Mining in Silver Bay, which will be shutting down by the middle of this month. This will affect roughly 470 employees, a significant number for a city like Silver Bay with a population of only 1,800. Cleveland-Cliffs CEO Lourenco Goncalves said they’ve evaluated…
CLEVELAND – A new report released by the Lake Carriers’ Association shows shipments of iron ore from U.S. Great Lakes ports totaled six million tons in May, an increase of nearly two percent compared to a year ago. The new data is also four percent above the month’s 5-year average. Year-to-date the iron ore trade stands at 14.5 million tons, an increase of…
CHISHOLM, Minn.- Chisholm business leaders, city and state officials, and employees heard a state of the business update from the iron ore mining company Cleveland-Cliffs. President, Chairman and CEO Lourenco Goncalves spent the beginning of his presentation detailing Cleveland-Cliffs’s growth since he took over in August 2014. But soon he delved into the environmental impacts of iron ore mining, clean steel-making…
DULUTH, Minn.- The Beautrix will be the last ocean going vessel of the season to ship out of the Twin Ports. Tuesday night the Beatrix is loading spring wheat destined for the United Kingdom. So far this year nearly 700 vessels visited the Twin Ports. Northlanders will see plenty more ships coming in, but Beatrix is the last to head out…
