Cleveland-Cliffs to Invest $1 Billion to Modernize Ohio Plant

CLF Cleveland-Cliffs Inc

$12.98 +6.48%

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1. 1Cleveland-Cliffs (CLF) announced it will invest $1 billion to modernize its Middletown Works in Ohio
2. 2The Department of Energy (DOE) is expected to cover half of the cost with its existing $500 million grant, and the stock rose 8% on Friday
3. 3The blast furnace rebuild is slated for completion in Q1 2030, will employ more than 1,500 workers at peak construction, and retain the existing 2,300 jobs

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