INSTITUTIONAL SHAREHOLDER SERVICES
Cliffs Achieves Governance Performance Ranking of 93% vs S&P SmallCap 600
In 2007, Institutional Shareholder Services, an independent organization that has become a leader in rating corporate governance, evaluated and ranked our corporate governance practices. We are pleased to report that our score on ISS’ Corporate Governance Quotient was better than 91.6 percent of all materials companies surveyed and 92.7 percent of the S&P SmallCap 600 Companies. Cliffs’ record for meeting or exceeding governance regulations and guidelines was recognized, and this rating reflects our steadfast commitment to ethical integrity. While our ISS ranking is gratifying, good governance is an ongoing process on which we continually focus. Ethical conduct is an integral part of the governance philosophy at Cliffs.
NMA/MSHA SENTINELS OF SAFETY
Northshore Is 2006 Sentinels of Safety Qualifier
Co-sponsored by the National Mining Association (NMA) and the U.S. Department of Labor’s Mine Safety and Health Administration (MSHA), Sentinels of Safety annually recognizes those mines with the nation’s best safety records.
Northshore Mining Company’s plant operations qualified for the Sentinels of Safety Award (http://www.nma.org/technology/safety.asp) in 2006 by recording not a single MSHA reportable injury during the year.
CLIFFS PRESIDENT’S AWARD FOR SAFETY
Northshore Achieves Seventh Safety Award
Northshore Mining Company of Silver Bay, Minnesota, was named 2007 recipient of the Cliffs President’s Award for Safety. The award is presented annually to the Cliffs operation with the best safety record as measured by the frequency rate established by the Mine Safety and Health Administration (MSHA) for reportable injuries.
The Northshore mine has been the recipient of the Cliffs President’s Award for Safety the past six consecutive years, and seven out of the last nine years overall. Northshore achieved the award with a total reportable injury frequency rate of 0.39 per 200,000 hours worked in 2006, a 71 percent improvement from 2005’s safety performance, and a 92 percent improvement since the inception of Cliffs’ current safety program in 1998.
It is evident that dedication to safety runs throughout Northshore’s mining operations. The consistency of Northshore’s performance highlights the importance of individual accountability to minimizing employee risk and is a testament to Cliffs’ goal of eliminating operational hazards.
| Past Recipients: |
| 2001-2006 |
Northshore Mine |
| 2000 |
LTV Steel Mining Company
Hoyt Lakes, Minnesota |
| 1999 |
Northshore Mine |
| 1998 |
Empire Mine
Palmer, Michigan |
FORBES MAGAZINE
Cliffs Selected to Forbes Platinum 400
Cleveland-Cliffs was named to the Forbes Platinum List in the category of Materials on December 26, 2005. The 2005 Platinum List represented Forbes’ 56th annual listing of the 400 Best Big Companies in America.
To compile the list, Forbes screened more than 1,000 corporations with revenue of $1 billion or more, using metrics such as latest 12-month and five-year stock performance, revenue and earnings-per-share growth and debt-to-capital ratios, as well as corporate governance measures.
Please click on the following for more information: http://www.forbes.com/lists/2006/88/02J5.html
