Cleveland-Cliffs Inc. has reached tentative contract settlements with the United Steelworkers Union, representing approximately 2,000 hourly employees at its four managed iron ore mines in Minnesota and Michigan.

Contracts at Hibbing Taconite and United Taconite in Northern Minnesota, and Empire and Tilden Mines in the Upper Peninsula of Michigan are set to expire on August 1.

Company officials said no details of the settlements would be released publicly until union members have ratified the contracts.

John S. Brinzo, Cliffs' Chairman and CEO, said, "We are pleased that tentative settlements have been reached. These were difficult negotiations but together we have achieved labor agreements that are fair to our employees, while allowing the company to maintain a competitive position within our industry. We appreciate the hard work that went into these negotiations."

Headquartered in Cleveland, Ohio, Cleveland-Cliffs Inc. is the largest producer of iron ore pellets in North America, selling 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.