Cleveland-Cliffs announced that its new labor agreement with the United Steelworkers (USW) has been ratified. The contract covers approximately 12,000 USW-represented employees at 13 operating locations and has a 4-year duration from its starting date of September 1, 2022. Combined with the previously ratified labor agreement covering 2,000 USW-represented employees at the company’s mining and pelletizing operations, Cliffs and the USW have concluded the renegotiating cycle with contracts valid through September of 2026.

“Cleveland-Cliffs is a people-oriented company. These labor agreements, covering more than half of our entire workforce, support that statement,” Cliffs Chairman, President and CEO Lourenco Goncalves said. “Our workforce has made these past two years possible, including navigating a monumental transformation and growth, overcoming the challenges of a pandemic, and adapting to an ever-changing business climate. Going forward, we will continue to promote our employees’ well-being as the basis of our success, for the benefit of our clients and our long-term shareholders.”

The new labor agreement, which covers Cliffs’ USW-represented employees working at locations in Ohio, Pennsylvania, Indiana, Illinois, West Virginia, and Minnesota, raises base wages by 20%, improves insurance benefits for active and retired workers, increases pensions, improves vacation provisions, an additional holiday and includes new provisions of parental paid leave and for employees who are victims of domestic violence.