Item 7.01Regulation FD.
Cliffs' Announcement to Partially Restart Northshore Operations
During its earnings conference call on Tuesday morning,
"Our higher levels of steel production have led to the partial restart of some
operations at our iron ore mining and pelletizing swing facility at Northshore
earlier this month. As you may recall, Northshore has been totally idle since
the spring of last year. We will continue to treat that facility as our swing
operation. And at this time, we still do not expect to operate
The Trustees have not been provided with any additional information regarding
the anticipated volume of production, stockpiling or shipping of iron ore
products at the Northshore operations in
Forward-Looking Statements
This press release contains certain forward-looking statements with respect to Northshore operations in 2023 and other matters, which statements are intended to be made under the safe harbor protections of the Private Securities Litigation Reform Act of 1995, as amended. Northshore operations could differ materially from current expectations due to inherent risks and uncertainties such as general adverse business and industry economic trends, uncertainties arising from war, terrorist events, recession, potential future impacts of the coronavirus (COVID-19) pandemic, and other global events, higher or lower customer demand for steel and iron ore, decisions by mine operators regarding curtailments or idling of production lines or entire plants, announcements and implementation of trade tariffs, environmental compliance uncertainties, difficulties in obtaining and renewing necessary operating permits, higher imports of steel and iron ore substitutes, processing difficulties, consolidation and restructuring in the domestic steel market, and other factors. Although the Mesabi Trustees believe that any such forward-looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties, which could cause actual results to differ materially.
Additional information concerning these and other risks and uncertainties is
contained in the Trust's filings with the
In accordance with general instruction B.2 to Form 8-K, the information in this Form 8-K shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.
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