Cleveland-Cliffs Inc. announced that contract settlements have been reached and ratified by the United Steelworkers Union, representing approximately 575 hourly employees at Wabush Mines in Canada.

The United Steelworkers of America initiated a strike in July that idled Wabush Mines' mining and concentrating facilities in Labrador, Newfoundland, and pelletizing and shipping facilities in Pointe Noire, Que. Operations were set to resume on Monday.

Company officials said they are pleased the work stoppage is over. With new contracts in place, now is the time to move forward and work towards the long-term success of Wabush.

Wabush Mines is owned jointly by Stelco Inc. (44.6%), Dofasco Inc. (28.57%) and a subsidiary of Cleveland-Cliffs (26.83%). Wabush has the capacity to produce 6 million tons of iron ore pellets per year.

Headquartered in Cleveland, Ohio, Cleveland-Cliffs Inc. is the largest producer of iron ore pellets in North America and sells the majority of its pellets to integrated steel companies in the United States and Canada. The company operates six iron ore mines located in Michigan, Minnesota and Eastern Canada.