CCI to invest $500 million
By CHRISTOPHER DIEM Journal Staff WriterNEGAUNEE - Cleveland Cliffs Inc. will invest $500 million dollars to increase pellet production at the Empire and Tilden mines - adding 375 new employees and extending the life of the Empire Mine until 2018.
Continued operations at the Empire Mine, which faced potential closure in 2011, will protect 550 current jobs. In addition, production at the Tilden Mine will be maximized, resulting in an annual pellet production capacity of about 13 million tons next year.
Donald Gallagher, president of Cleveland Cliffs North American Business Unit, made the announcement Saturday along with U.S. Rep. Bart Stupak, D-Menominee and other politicians.
Gallagher said a large part of the investment will be used to buy new mining equipment to uncover ore at Empire not previously available.
