Steel Mills
November 2, 2014
Nucor a Possible Investor in Bloom Lake Mine
Written by Sandy Williams
Nucor Corp. is reportedly one of the steel mill in talks with Cliffs Natural Resources over an investment plan for the Bloom Lake iron ore mine in Canada.
Cliffs CEO Lourenco Goncalves said in the company earning calls that Cliffs would seek three investors, to partner at 10 percent each, to develop Phase 2 of the iron ore mine. An infusion of approximately $1.2 billion is needed to boost production to 13.6 million tons and make the mine competitive.
