Steel Mills
January 2, 2019
ArcelorMittal Assuming Management of Hibbing Taconite
Written by Sandy Williams
ArcelorMittal announced it will take over as managing partner for Hibbing Taconite effective Aug. 12. The iron ore mine and pellet processing facility began production in 1976 and is currently managed by Cleveland Cliffs. The operation is jointly owned by ArcelorMittal, Cleveland Cliffs and U.S. Steel, holding shares of 62.4 percent, 23 percent and 14.7 percent, respectively.
Cleveland Cliffs announced in August 2018 that it would resign as managing partner when its contract expires, preferring to focus on its wholly-owned operations and its new HBI facility in Ohio.
