Cleveland-Cliffs completes acquisition of ArcelorMittal USA

That means they now control four of the six mines on the Range: Minorca, Hibtac, United Taconite and Northshore Mining.

In a statement, CEO Lourenco Goncalves said, "We recognize our leadership role both domestically and globally as a major steel company, and pledge to operate our business in a disciplined, environmentally responsible, and socially conscious manner. The potential of operating this set of assets under one roof is immense, and will be carried out to the benefit of our employees, their families, and the communities in which we operate."

Cliffs said this is the second company they've acquired in 2020. The first was AK Steel.