2020 a “Transformative” year for Cleveland Cliffs
Cleveland – Twenty–twenty was a transformative year for Cleveland Cliffs.
In a conference call today, the company reported revenues of $5.4 billion last year compared to $2 billion in 2019.
Fourth quarter revenues in 2020 were $2.3 billion – a 300% increase to the company’s revenues in the same period in 2019.
The company owns the Tilden Mine and indefinitely idled Empire Mine in Marquette County as well as two mining operations in Minnesota.
Cliffs finalized its acquisition of steelmaker Arcelormittal USA, LLC at the end of last year.
The company purchased AK steel earlier in 2020.
The two transactions make Cliffs the largest steelmaker in North America according to company officials.