:: Cliffs Signs Technical Assistance Agreement With Ferrominera Orinoco

Cleveland-Cliffs Inc has announced that its subsidiary, Cliffs International Management Company, LLC, has entered into an agreement to provide technical assistance to C.V.G. Ferrominera Orinoco C.A. of Venezuela. Under the agreement, Cliffs will assist Ferrominera to achieve stable and sustainable production at its iron ore pellet plant located in the State of Bolivar, Venezuela.

Ferrominera Orinoco is a government-owned company responsible for the development of Venezuela's iron ore industry. The company owns a 3.3 million metric ton pellet plant located in Puerto Ordaz, Venezuela, where it processes high-grade ores produced from its main iron ore deposits in Ciudad Piar. Production from the mine and pellet plant is for both domestic consumption and sale in the international markets.

Under terms of the agreement, Cliffs International will provide a technical assistance team that will reside in Venezuela and work at the pellet plant on a full-time basis. The team will assist current management in various operational functions including operations and process control, maintenance, safety, environmental, training, and quality control.