Business

Lourenco Goncalves of Cleveland-Cliffs Inc (NYSE:CLF) Unaccommodating of Partnership with Clarke

It is a dead-end for the partnership that was expected to take place between Cleveland-Cliffs Inc (NYSE:CLF) and Clarke. That is according to the statement by Lourenco Goncalves who is the current CEO of Cleveland-Cliff. The official made the statement during Cleveland-Cliffs’ earnings call, an incident that saw a number of questions directed at him. One of the questions was in line with his recent acquisition of mineral rights at the former Essar site.

He said, “It’s contiguous. I can operate on that land with no problem, having access from public roads. And we can execute a mine plan. Very soon we will have a mine plan to submit to the DNR, and we will have permits to mine that land.”

It was in the previous year when Cliffs proceeded to purchase surface and mineral rights from Glacier Park Iron Ore Properties. He went further to disclose that Chippewa Capital Partners which happens t be its other competitor did not at the moment have leases.

Tom Clarke and Chippewa want the state mineral leases reinstated as soon as possible and they are looking forward to set up the mine as well as complete a pig iron plant lying on the site.

Several lawmakers came together in a joint move to get Goncalves and Clarke to sit down and iron out matters. These lawmakers are determined to push matters to see to it that the partnership is struck.

Rep. Jason Metsa in a recent statement disclosed that Governor Clarke and Dayton had arrived at an agreement to meet and iron out matters. There are major possibilities of a litigation that would end up barring all the three parties from holding a joint meeting at the moment. But that is not to rule out the fact that his immense hope in the future.

A number of people asked Goncalves to disclose to them about his stand regarding the possibility of the meeting ever taking place. He said that he could only have welcomed talks with a real mining company. He added that the so-called entrepreneur hasn’t done anything tangible yet.