Cleveland-Cliffs, Inc.

Founded in 1847, Cleveland-Cliffs has been traditionally recognized as the largest and oldest independent iron ore mining company in the United States. In 2020, Cleveland-Cliffs conducted an enormous transformation that will keep the company thriving for the next century with the acquisition of two prominent steel companies in the United States. AK Steel was acquired in March 2020 and it was the Company’s initial entry into high-end steelmaking. With a U.S.-centric strategy, the investment in AK Steel was a perfect fit and aligned with the Company’s positive future outlook for automotive production and manufacturing in the United States. The second and final step of Cleveland-Cliffs’ transformation into a fully integrated high-value steel enterprise was completed with its acquisition of ArcelorMittal USA in December 2020. This acquisition positions Cleveland-Cliffs more competitively in an increasingly quality-focused marketplace, and amplifies its position in the discerning automotive steel marketplace, and further improves its position in important U.S. markets such as construction, appliances, infrastructure, machinery and equipment.

Today, Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America. The company is vertically integrated from mining through iron making, steelmaking, rolling, finishing and downstream with hot and cold stamping of steel parts and components.

Cliffs has the unique advantage of being self-sufficient with its production of raw materials for its steel manufacturing, which includes iron ore pellets, hot briquetted iron (HBI) feedstock and coking coal.

As Cleveland-Cliffs expands its presence, a sustainable business model is clearly in the best interest of all stakeholders and the surest way to secure a long-term competitive advantage. Built on a strong legacy of safety and environmental stewardship, Cliffs operates responsibly and produces environmentally friendly iron ore pellets that enable production of clean steel, which is also the most recycled material on the planet. From a focus on key environmental processes such as steel recycling and water reuse, to corporate and social responsibility, sustainability is core to the company’s values and operations.

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