Cliffs Natural Resources (NYSE: CLF), formerly Cleveland-Cliffs, is a Cleveland, Ohio business firm that specializes in the mining and beneficiation of iron ore and the mining of coal. The firm, which believes it is the largest producer of beneficiated iron ore pellets in North America, is an independent company whose shares are traded on the New York Stock Exchange. On the same date, the firm stated that it had approximately 4,000 employees and ...
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Cliffs Natural Resources (NYSE: CLF), formerly Cleveland-Cliffs, is a Cleveland, Ohio business firm that specializes in the mining and beneficiation of iron ore and the mining of coal. The firm, which believes it is the largest producer of beneficiated iron ore pellets in North America, is an independent company whose shares are traded on the New York Stock Exchange. On the same date, the firm stated that it had approximately 4,000 employees and a 28% share of the iron-ore pellet market.
The firm's earliest predecessor was the Cleveland Iron Mining Company, founded in 1847. Samuel Mather and six associates had learned of rich iron-ore deposits recently discovered in the highlands of the Upper Peninsula region of Michigan. Soon afterwards, the first Soo Canal opened in 1855, allowing iron ore to be shipped from Lake Superior to Lake Erie.
Technological improvements, such as the Bessemer furnace, made it possible for the North American Great Lakes to produce steel on an industrial scale...
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