June 21, 2017
 
Cliffs Building HBI Production Facility in Toledo

Cliffs Natural Resources Inc. has selected a site in Toledo, Ohio for the development of its first hot briquetted iron production plant. Midrex Technologies was selected to design, engineer and procure equipment for the new plant, which will have the nominal capacity to produce 1.6 million tons of HBI per year.

“This announcement marks a very important strategic milestone for Cliffs as we begin to implement our plans to be the sole producer of high-quality HBI for the EAF steel market in the Great Lakes region. We look forward to the strong margin and earnings potential this new product will generate for Cliffs shareholders,” says Lourenco Goncalves, chairman, president and CEO.

Cliffs anticipates breaking ground for the construction of the HBI production plant in early 2018, with the production of commercial tonnage of HBI beginning in mid-2020. Cliffs considers the brownfield site at the Port of Toledo a premier location for development due to its relative proximity to several future customers, as well as its logistics advantages, including affordable gas availability and access by multiple rail carriers. The facility will become the first of its kind in the Midwest.


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Monday, October 23, 2017