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Hibbing Taconite to idle production as demand for steel tumbles

Grandforksherald - Hibbing Taconite will idle production next month until at least early July and lay off 650 employees as the demand for steel tumbles during the COVID-19 pandemic.

ArcelorMittal, which manages Hibbing Taconite and owns the largest stake in the mine, said the iron ore mine and pellet processing plant will idle May 3 and resume operation on July 6 "due to the unprecedented and challenging times presented by the COVID-19 pandemic."

"As a result, Hibbing Taconite has begun preparations to reduce production in a safe and orderly manner with necessary precaution to preserve the asset for future production," an ArcelorMittal spokesperson said in an email Monday night.

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