It's a fairly big deal for the area. That steel mill had been opened since the 20's and once employed 7400 people,...and was known for the quality of its rolled steel,...a process that it pioneered.
Imported steel eventually killed it. The company that bought it refines iron ore and plans on using part of the plant for its iron ore production and part of it to produce rolled steel. From the sound of it, it's a great purchase for Cleveland Cliffs iron ore mining company.
It's going to put a lot of people back to work and put a lot of high quality American made steel back on the market.
