trending Market Intelligence /marketintelligence/en/news-insights/trending/4i5eW15cCfmPY4Mi3PQQGg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Cleveland-Cliffs facing arbitration claim over allegedly unpaid royalties

Mining Exploration Insights December

Mining Exploration Insights: Dip in gold drilling weighs on results

Mining Exploration Insights: Is the exploration sector back on recovery?

State of the Market: Mining Q2-2019


Cleveland-Cliffs facing arbitration claim over allegedly unpaid royalties

Cleveland-Cliffs Inc. is facing an arbitration claim from New York-based Mesabi Trust over royalties on the Peter Mitchell iron ore mine in Minnesota.

Cleveland-Cliffs unit Northshore Mining Co. mines ore from the mine and pays a royalty to Mesabi based on the selling prices of pellets shipped from the Northshore pellet plant.

In a case filed with the American Arbitration Association, Mesabi alleged that Northshore failed to record and calculate royalties related to the production, shipment and sale of iron ore, including direct reduction-grade pellets, during the second and third quarters.

The royalty trust is seeking an award of damages, along with specific performance and declaratory relief. No specific figures were disclosed in the Dec. 9 news release.

Cleveland-Cliffs recently agreed to acquire AK Steel Holding Corp. for US$1.1 billion.