Previously EVTAC Mining Company, the operation produced its first pellets in 1965 and was idled in May 2003. A unique aspect of this transaction is that 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.
Location: Center of Minnesota’s Mesabi Iron Range, mine located in Eveleth, Minnesota and processing facilities located in Forbes, Minnesota
Workforce: 486 employees
Type of Ore: Magnetite
2007 Production: 5.3 million tons
Cliffs’ Ownership Share: 100%
Management: Cliffs Mining Company
The numbers reported above are estimates for full-year 2007.
