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Cliffs Acquires the Remaining Interest in Tilden
Cleveland-Cliffs Inc. has acquired U.S. Steel Corp.'s 15% equity interest in the Tilden Mining Co. for $105 million in cash. Cliffs previously owned an 85% interest in the joint venture and now has 100% ownership of the mine. The transaction closed on September 29. With the closing of this transaction, Cliffs has added 1.2 million long tons of annual pellet production capacity and 55 million long tons of proven and probable crude ore reserves.
Cliffs Acquires the Remaining Interest in Tilden
Cleveland-Cliffs Inc. has acquired U.S. Steel Corp.'s 15% equity interest in the Tilden Mining Co. for $105 million in cash. Cliffs previously owned an 85% interest in the joint venture and now has 100% ownership of the mine. The transaction closed on September 29. With the closing of this transaction, Cliffs has added 1.2 million long tons of annual pellet production capacity and 55 million long tons of proven and probable crude ore reserves.
Cliffs Acquires the Remaining Interest in Tilden
2017
Article (Journal)
English
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