ArcelorMittal To Assume Management Of Hibbing Taconite

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VIRGINIA, Minn. (AP) — Global iron ore producer ArcelorMittal says no changes in employment, production or operations are expected when it assumes the role as managing partner for Hibbing Taconite later this year.

ArcelorMittal will take over managing duties from Cleveland-Cliffs Inc. effective Aug. 12. Cleveland-Cliffs announced earlier this year that it planned to resign from its position as managing partner in the open-pit mining operation when its contract expires. Hibbing Taconite began production in 1976 and currently has 735 hourly and salaried employees.

The companies say that while management of the facility will change, ownership of the Iron Range operation will not. About 62 percent of the iron ore mine and pellet processing facility is owned by ArcelorMittal with Cliffs and U.S. Steel owning the remaining percentage.