CLEVELAND — Cliffs Natural Resources Inc. announced today that it has renamed the company — going back to its historical name Cleveland-Cliffs Inc.

“Under the name Cleveland-Cliffs, the company has been for many decades an important part of the North American iron and steel industry,” the news release reads. “The name change is part of the celebration of the 170th anniversary of the company, and is effective immediately.”

The company’s NYSE stock ticker symbol “CLF” will remain the same, according to the release.

“The historical name Cleveland-Cliffs is synonymous with our strong heritage, and is the perfect one for our next era of growth,” said Lourenco Goncalves, chairman, president and chief executive officer, in the release. “As we did more than 60 years ago, when we adopted pelletizing as a smart business opportunity to utilize American iron ore and provide the domestic blast furnaces with customized pellets, Cleveland-Cliffs is once again reinventing itself as the supplier of high-quality iron units to the Great Lakes region.

“With our expansion into the production of hot-briquetted iron to supply the growing electric arc furnace steel industry, Cleveland-Cliffs is the best name to represent our strong present and our bright future,” Goncalves said.

Founded in 1847, Cleveland-Cliffs Inc. is the largest and oldest mining company in the United States. It is a major supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. Additionally, it operates an iron ore mining complex in Western Australia.

By 2020, Cliffs expects to be the sole producer of hot briquetted iron in the Great Lakes region with the development of its first production plant in Toledo, Ohio, the release states.

For more information, visit http://www.clevelandcliffs.com