Hibbing Taconite to idle operations on May 3, expects to resume in early Jul

It was reported that a Hibbing Taconite, a joint-venture of ArcelorMittal, US Steel, and Cleveland-Cliffs, would suspend its operations of iron ore mine and pellet processing plant on May 3rd and expected to resume the operations at least on July 6th.

It was said that about 650 workers would be laid off as a result of poor steel demand in the market. Last week, Cleveland-Cliffs had planned to idle Northshore Mining in Babbitt and Silver Bay, and US Steel had also expected to idle its Keetac iron ore operations.

Total announced layoffs in three mines went to 1,495. ArcelorMittal announced to idle one of blast furnaces at Burns Harbor where Hibbing Taconite shipped 7.8 million tons of pellets every year.

Source: YIEH CORP.