Cleveland-Cliffs
North American Mining Operations
Previously EVTAC Mining Company, the operation produced its first pellets in 1965 and was idled in May 2003. The mine assets were purchased in December 2003 by Cleveland-Cliffs Inc (70%) and Laiwu Steel Group Ltd. (30%) of China. Cliffs is the managing agent. A unique aspect of this transaction is that Cleveland-Cliffs and its Wabush Mines venture partners entered into pellet sales and trade agreements with Laiwu in order to optimize shipping efficiency. Completion of a capital expansion in December 2004 increased production by one million tons per year, bringing the mine’s annual rated capacity to 5.2 million gross tons per annum.
United Taconite Mines: Statistical Information
The numbers reported below are approximate as of
December 31, 2006:
- Location: Center of Minnesota’s Mesabi Iron Range, mine
located in Eveleth, Minnesota and processing facilities
located in Forbes, Minnesota
- Workforce: 486 employees
- Annual Payroll (including benefits): $46 million
- Annual Local Services and Supplies: $138 million
- Includes Annual Electric Power Purchase: $19 million
- Minnesota and Local Taxes: $9 million
- Taconite Production Tax: $8 million
- Total Annual Local Economic Impact: $193 million
UNITED TACONITE FACILITY
Type of Ore: Magnetite
Through 2006, the mine had produced 148,850,011 gross
tons of pellets.
Pellet production began in 1965.
2006 Production: 4.3 million gross tons
2007 Production Estimate: At or near capacity
Annual Rated Capacity: 5.2 million gross tons
The United Taconite Company is owned by:
Cliffs Minnesota Mining Company: 70%
Laiwu Steel Group Ltd. (China): 30%
United Taconite is managed by Cleveland-Cliffs Inc.
