Cleveland-Cliffs announces expansion of Northshore mine.CLEVELAND--(BUSINESS WIRE)--Jan. 10, 1995--Cleveland-Cliffs Inc today announced that its Board of Directors approved a $6.1 million iron ore pellet expansion project at its Northshore Mining Company subsidiary in Northern Minnesota. The expansion, expected to be completed by June, 1995, will increase the mine's annual production capacity by 900,000 tons. Production in 1995, originally scheduled to be 3.5 million tons of standard and flux product, is now scheduled to be 4.1 million tons. M. Thomas Moore, Cliffs' chairman and chief executive officer, said, "We are capitalizing on the expansion capability of Northshore to meet the increased demands of the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. steel industry. This is the first step in realizing the potential of our newest mining asset." The expansion project represents the reactivation reactivation to become active after a period of quiescence or, as in bacterial and viral infections, latency. cross reactivation of one idle pelletizing Pelletizing or pelletising is the process of compressed or molding of product into the shape of a pellet. A large range of different products are pelletized including chemicals, iron ore, animal compound feed, and more. line. A second idle line could be reactivated with additional capital if warranted by demand. Concentrating capacity is also available for "reduced iron See under Reduced. (Chem.) metallic iron obtained through deoxidation of an oxide of iron by exposure to a current of hydrogen or other reducing agent. When hydrogen is used the product is called also See also: Iron Reduce " production. The current expansion will require about 40 additional employees and increase Cliffs' total sales capacity by nearly 10 percent. Cleveland-Cliffs, which acquired the Northshore Mining Company on October 1, 1994, manages seven iron ore mines in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Australia. Cliffs has equity interests in six of the mines, holds a major iron ore reserve position in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , and is a substantial iron ore merchant. CONTACT: Cleveland-Cliffs Inc, Cleveland David L. Gardner, 216/694-5407 |
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