Huge news from Cliffs Natural Resources.
The Empire mine, which had been scheduled to close by the end of the year, will now remain open until at least the end of 2016. There’s an option for a third year, as well.
The last minute agreement with ArcelorMittal was announced Thiursday morning.
The agreement means 700 miners won’t be losing jobs by the end of the year.
Cliffs officials had previously said an agreement with ArcelorMittal was a very remote possibility and they had been making plans for the shutdown of the mine.