A 1974 company history noted that “it cost $200 a ton to smelt the ore and ship it down to Pittsburgh where was selling at $80 per ton. Transportation costs were prohibitive until 1855, when the Sault Ste. Although Mather was confident that, given time, the venture would prove profitable, it was for many years a losing proposition. Mather, an attorney, had moved to Cleveland, Ohio, in 1843, just two years after iron ore was discovered in the Marquette Range of Michigan ’s Upper Peninsula. ”Ĭleveland-Cliffs ’ predecessor, the Cleveland Iron Mining Company, was established in 1846 by a group of investors led by Samuel L. ![]() Stuart Harrison: “No matter what may happen, don ’t part with domestic iron ore reserves. Mather in the 1930s and summed up in 1974 by then-CEO H. ![]() Some industry observers hold that Cleveland-Cliffs reached the pinnacle of its industry by holding to one essential objective first promulgated by William G. Cleveland-Cliffs has been faced with competition from imports, takeover attempts, shareholder revolts, an ill-advised diversification, and the vagaries of the cyclical steel industry over the years, but as it entered the mid-1990s, the company had established a position of strength at the top of its field. As North America ’s only full-service iron ore firm, the company manages 47 percent of the continent ’s total capacity for production of iron ore pellets. is the Western world ’s leading producer of iron ore pellets. ![]() With seven iron ore mines in the United States, Canada, and Australia, Cleveland-Cliffs Inc. Incorporated: 1850 as The Cleveland Iron Mining Company
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