Overview
Cleveland-Cliffs announced today that the U.S. Department of Energy (DOE) has established a framework for Cliffs to finalize negotiations and implementation plans for its Middletown Works investment, rescoping the previously awarded $500 million DOE grant. The optimization project represents a total investment of $1 billion in Middletown Works, with funding shared equally by Cleveland-Cliffs and the DOE.You can read the news release at the link below. Mr. Goncalves' remarks at an event celebrating the investment are available on the Cleveland-Cliffs YouTube channel.Photo caption: Lourenco Goncalves, Chairman and Chief Executive Officer of Cleveland-Cliffs, speaks at Middletown Works.
Cleveland-Cliffs thanks Vice President J.D. Vance, U.S. Secretary of Energy Christopher Wright, and the federal and state elected leaders who visited Middletown Works today. We appreciate their support of our planned $1 billion investment project and the reindustrialization of American manufacturing. The Trump Administration's America First economic agenda ensures that Middletown Works remains one of the premier steelmaking facilities in North America, strengthening American Steelmaking for decades to come.
You can watch a broadcast of the Vice President's remarks on The White House YouTube Channel, available at the link below.
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