Cliffs Natural Resources to Dissolve Michigan Iron Nuggets Joint Venture with Kobe Steel

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Cliffs Natural Resources Inc.
CLF
announced today that it plans to dissolve its Michigan Iron Nuggets Joint Venture with Kobe Steel. The joint venture was originally formed in 2007 to explore the viability of constructing a commercial operation to produce a pig iron substitute using Kobe's ITmk3 technology and Cliffs' iron ore assets. This product was anticipated to be marketed as a feedstock to the electric arc furnace and foundry markets. The plant was designed and permitted for construction adjacent to Cliffs' operations in the Upper Peninsula of Michigan.
Posted In: NewsContracts
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