MARQUETTE — After a statement was made by Marquette County officials last week, Cleveland-Cliffs has reached a settlement with Marquette County, Richmond Township, Tilden Township and the city of Negaunee for an estimated $28.9 million.

This action ends seven years of litigation and provides tax certainty for the four taxing units through 2032.

Cleveland-Cliffs CEO Lourenco Goncalves was directly involved with the negotiations, which led to a quick resolution, the press release states.

The settlement met the county officials’ three objectives: to arrive at a tax payment settlement, avert job layoffs and potential mine closure, and to end the costly ongoing litigation. All three objectives were achieved, and the settlement has been ratified by all four municipal taxing units.