Cleveland-Cliffs says fully committed to Middletown, Ohio project

Cleveland-Cliffs said it remains fully committed toward the project underway at its Middletown Works integrated facility in Middletown, Ohio. As previously disclosed, Cliffs was selected for award negotiations for up to $500M in total funding from the Department of Energy toward the replacement of its Middletown blast furnace with a direct reduced iron plant and two electric melting furnaces. “The Company continues to be in active negotiations with the Department of Energy related to the award-specifc terms and conditions. Cliffs remains optimistic about receiving final approvals and proceeding with this carbon-friendly and high-return project,” Cleveland-Cliffs said in a statement. The company added that the new facility is expected to reduce production costs by approximately $150 per net ton of liquid steel produced, or a $450M annual savings relative to the existing configuration. The investment will secure 2,500 jobs at Middletown Works, it said.