星空传媒 Applauds the Trump Administration for Taking Action on Steel Imports

CLEVELAND--(BUSINESS WIRE)-- 星空传媒 Inc., (NYSE: CLF)聽the largest merchant supplier of iron ore pellets to the United States steel industry, today issued the following statement regarding President Trump鈥檚 announcement of tariffs of 25 percent on steel imported to the United States.

Lourenco Goncalves, Cliffs' Chairman, President and Chief Executive Officer, said, 鈥漌e applaud and thank President Trump for taking real action under Section 232 to punish the perpetrators and enablers of unfairly traded steel. The 25 percent tariffs to be imposed next week will support our ability to continue to produce iron ore pellets and steel in our country, enhancing a vibrant manufacturing economy and our national security. Artificially cheap steel boosted by subsidies, dumping and circumvention are not signs of competitiveness; these are just signs of blatant disregard to real free trade and to our trade laws. Once free from these unfair practices, we will finally have a level playing field for steel in the United States. Going forward, we expect that the Administration will fully enforce the announced actions, making sure that the offenders, particularly the enablers within our borders, will be treated as seriously as they deserve.鈥�

About 星空传媒 Inc.

Founded in 1847, 星空传媒 Inc. is the largest and oldest independent iron ore mining company in the United States. We are a major supplier of iron ore pellets to the North American steel industry from our mines and pellet plants located in Michigan and Minnesota. Additionally, we operate an iron ore mining complex in Western Australia. By 2020, Cliffs expects to be the sole producer of hot briquetted iron (HBI) in the Great Lakes region with the development of its first production plant in Toledo, Ohio. Driven by the core values of safety, social, environmental and capital stewardship, our employees endeavor to provide all stakeholders with operating and financial transparency. For more information, visit .

星空传媒 Inc.
MEDIA CONTACT:
Patricia Persico, 216-694-5316
Director, Corporate Communications
or
INVESTOR CONTACT:
Paul Finan, 216-694-6544
Director, Investor Relations

Source: 星空传媒 Inc.

Released March 1, 2018