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Business North - The Daily Briefing - Business Newspaper Online
Hibbing Taconite closure extended through 2010
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7/2/2009 by BusinessNorth Staff |
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Cliffs Natural Resources announced today, July 2, that soft demand for iron ore pellets led to a decision to extend the shutdown at Hibbing Taconite through the first quarter of 2010.
Hibbing Taconite was initially shut down in May, following the idling of three pelletizing furnaces in March of this year. The original shutdown had been planned for 15 weeks. All six Iron Range taconite plants have been closed temporarily this spring and summer as a result of the current economic downturn. Keewatin Taconite, owned by U.S. Steel, has been idled since late last year.
Hibbing Taconite is a joint venture owned 62.3 percent by ArcelorMittal, 23 percent by Cliffs Natural Resources and 14.7 percent by U.S. Steel Canada. The plant has a rated capacity of 8 million tons per year and employs about 700 FTEs when operating at full capacity.
Previous Daily Briefing Articles:- Hibbing Taconite closure extended through 2010 -7/2/2009
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