Cleveland-Cliffs plans to suspend iron ore mining operations at Northshore Mining in Minnesota beginning mid-April till Aug 2020. Idling of operations at its Tilden Mine in Michigan would commence by end of April till July 2020 due to slumped demand on the back of COVID-19 pandemic, according to the company’s press release on April 13.
With this move, the company looks to avoid stockpiling as steel consumers have rationalised their operations’ capacities in line with the market conditions. Once the market conditions stabilise, mainly in North America, Cleveland-Cliffs aims to restart and ramp-up its production.