Cleveland-Cliffs Inc (NYSE: CLF), which will be renamed
Cliffs Natural Resources in the coming months, today announced a
tentative agreement with the United Steelworkers (USW), on a new
four-year labor contract that will cover approximately 2,300
USW-represented workers at Cliffs’ Empire and
Tilden Mines in Michigan, and its United Taconite and Hibbing mines in
Minnesota.
Donald J. Gallagher, President North American Business Unit, commented, “We
are pleased to reach a new tentative labor contract that is fair and
equitable to both parties. Cliffs’ most
valuable resource is our employee base, and we look forward to
continuing our partnership with the USW, which will enable all employees
to share in the good fortune resulting from their hard work, and provide
us a solid platform for future achievement.”
The agreement replaces the current agreement. As the agreement is
pending ratification by USW local union memberships and Cliffs’
Board of Directors, no additional details will be released at this time.
To be added to Cleveland-Cliffs’ e-mail
distribution list, please click on the link below:
http://www.cpg-llc.com/clearsite/clf/emailoptin.html
Cleveland-Cliffs Inc, headquartered in Cleveland, Ohio, is an
international mining company, the largest producer of iron ore pellets
in North America and a major supplier of metallurgical coal to the
global steelmaking industry. The Company operates six iron ore mines in
Michigan, Minnesota and Eastern Canada, and three coking coal mines in
West Virginia and Alabama. Cliffs also owns 85% of Portman Limited, a
large iron ore mining company in Australia, serving the Asian iron ore
markets with direct-shipping fines and lump ore. In addition, the
Company has a 30% interest in the Amapá
Project, a Brazilian iron ore project, and a 45% economic interest in
the Sonoma Project, an Australian coking and thermal coal project.
News releases and other information on the Company are available on the
Internet at:
http://www.cleveland-cliffs.com
or
www.cleveland-cliffs.com/Investors/Pages/default.aspx?b=1041&1=1
“Safe
Harbor”
Statement under the Private Securities Litigation Reform Act of 1995
A number of the matters discussed
in this document that are not historical or current facts deal with
potential future circumstances and developments, in particular,
information regarding a new labor agreement, operating and financial
data, the company’s
plans, objectives, expectations and intentions and whether and when the
labor agreement will be consummated.
