Laiwu and Cliffs submit composite offer for Eveleth
According to latest industry reports, Chinese steelmaker Laiwu Steel Group and iron ore products' producer Cleveland Cliffs have submitted a composite offer to purchase Eveleth iron ore mines. The mine which is located in northeast Minnesota, was closed earlier this year. Laiwu and Cliffs are planning to reopen the mine, after reaching an agreement with Eveleth and its stakeholders. Also, Eveleth is under Chapter 11 bankruptcy protection.