Cleveland-Cliffs And United Steelworkers Strike A New Deal: What This Means For Minnesota's Northshore Mine
Portfolio Pulse from Nabaparna Bhattacharya
Cleveland-Cliffs Inc. (NYSE:CLF) has reached a tentative three-year labor agreement with the United Steelworkers (USW) for operations at the Northshore Mine in Minnesota. The agreement covers around 430 USW-represented workers. Further details are pending ratification. Last year, the company ratified a similar agreement covering 12,000 USW-represented employees at 13 locations. CLF shares closed 4.15% higher at $15.30 on Tuesday.
August 30, 2023 | 12:04 pm
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Cleveland-Cliffs has reached a tentative labor agreement with the United Steelworkers, potentially improving labor relations and operational stability at the Northshore Mine. The company's stock rose 4.15% on the news.
The tentative labor agreement between Cleveland-Cliffs and the United Steelworkers could lead to improved labor relations and operational stability at the Northshore Mine. This is likely to be viewed positively by investors, as evidenced by the 4.15% rise in the company's stock price following the announcement.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100