Skip to main content

CEO sees demand for Iron Range taconite growing; production up


The president and CEO of Cliffs Natural Resources says the company's three Minnesota taconite mines will operate near full capacity with stable employment this year.

Gary Halverson told business leaders on the Iron Range the national demand for steel is expected to grow 4 percent this year, as the construction and automaking industries increase production, the News Tribune reports.

Cliffs operates three of Minnesota's six major taconite mines: Hibbing Taconite, United Taconite, and NorthShore Mining. The News Tribune says the company has 1,856 Iron Range employees and a payroll of $251 million.

Halverson expects Cliffs will increase its production of iron ore pellets from 21 million tons last year to more than 22 million this year. That growth will occur even as the company reduces spending, he says.

Northland's News Center reports Halverson says this year's capital expenditures will be less than half of last year's $860 million as the company focuses on its core mission.

Halverson stepped into the company's newly created role of president and CEO in late October. But his leadership has already come under fire.

As Business North reports, Cliffs' biggest investor – a New York hedge fund called Casablanca Capital – is pushing for a CEO change and wants the company to split off its international holdings.

Next Up

Target store

Target's gift card discount is back, but for this weekend only

The fine print: for Target Circle members only (but membership is free).

Screen Shot 2020-06-15 at 7.11.05 AM

Minneapolis teen arrested in St. Cloud after fleeing police in stolen vehicle

The vehicle was stolen in a car-jacking in Minneapolis Thursday.

snow, blowing snow

Winter storm warnings issued with heavy snow set to slam MN

Parts of northern Minnesota could see more than a foot of snow, but there won't be much in the Twin Cities.

D'Angelo Russell

With KAT out, Timberwolves can't upset Nets

D'Angelo Russell stepped up but couldn't overcome Brooklyn's firepower.

Everson Griffen Vikings dot com

Everson Griffen confirms he has bipolar disorder

"I’ve been running from it a long time. I’m not ashamed of it anymore.”

Angela Renee Jones, St. Cloud murder suspect

St. Cloud suspect now charged in two local murder cases

Both murders happened within a day of each other in June.

st anthony 3 crop

Twin Cities police ask for help finding missing 16-year-old

Police say all her family and friends have been contacted, and none of them know where she is.

mpd suspect 12.3.21 - 1 - CROP

MPD releases photos of shooting suspect, asks for public's help

The man is wanted in connection with a fatal shooting that happened Wednesday evening.

redmons popcorn colbert 2

Support grows for Redmon's Popcorn after shop's sudden closure

The county also commented on the situation, saying it hopes to help owner Zack Redmon.

prior lake high school

Prior Lake HS investigating another 'racist' video involving student

The principal said the social media video was reported to them this week.