Anglo American coal bidders down to three, say sources
The final bidders are down to Yancoal Australia, Stanmore Resources and Peabody Energy.
Cleveland-Cliffs has no plans to replace any of its coal-fueled blast furnace operations with electric-arc furnaces as the U.S. and EU negotiate a new trade agreement aimed at lowering carbon emissions from steel production, CEO Lourenco Goncalves said on Tuesday.
“At this point in time, given the market conditions, our blast furnaces, which are very environmentally compliant, are here to stay,” Goncalves told a news briefing in Washington.
(By David Lawder)
Comments
David Beringer
I guess United States Steel shareholders will be happy to see a competitor dig in their heels with old technology…https://investors.ussteel.com/news/news-details/2020/U.-S.-Steel-Announces-Successful-Start-Up-of-New-Electric-Arc-Furnace-at-Its-Alabama-Facility/default.aspx