Cleveland-Cliffs completed the acquisition of Stelco for $2.5bn.

Cleveland-Cliffs, an American steel manufacturer specialized in the mining, beneficiation, and pelletizing of iron ore, completed the acquisition of Stelco, a Canadian steel company, for $2.5bn. “Cliffs, led by industry leader Lourenco Goncalves, has made it clear both in words and in practice, that they share many of the core values that have led to Stelco’s recent success, and I am confident that the strong legacy of Stelco, our partners and our employees are in very good and strong hands going forward," Alan Kestenbaum, Stelco Chairman and CEO.