Cliffs Natural Resources CEO Lourenco Goncalves on Wednesday said he wants to build a direct-reduced iron plant in Minnesota and strongly hinted he'd like to do it at the now half-built Essar Steel Minnesota site in Nashwauk.
Goncalves, speaking at Cliffs' annual breakfast briefing with Iron Range business and civic leaders, said the strongest future for his company and for Minnesota's taconite iron ore industry lies in producing products — namely direct-reduced iron — that can be used in electric arc furnace steel mills that now supply nearly two-thirds of the domestic steel market.
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