During a July earnings call, Cleveland Cliffs CEO Lourenco Goncalves announced upgrades to the Butler Works plant will be completed in the next two years.
Cleveland Cliffs received $75 million from the U.S. Department of Energy (DOE) in 2024 to go toward new electric induction heat furnaces.
During the earnings call, Goncalves announced to help lower carbon emissions at the plant will be completed in 2028 and by 2030 will be running at maximum energy efficiency and on-site power generation.
