The new agreement, which is retroactive to 1 September, covers approximately 12,000 union members at 13 operating locations.

Ratification of the contract follows acceptance of another agreement with approximately 2,000 union workers at Cliffs mining and pelletizing operations.

“Cleveland-Cliffs is a people-oriented company. These labor agreements, covering more than half of our entire workforce, support that statement,” said Cliffs chairman and chief executive Lourenco Goncalves.

“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," he added. 

According to the Steelworkers, the contract raises base wages by 20% and includes improvements to insurance benefits for active and retired workers, vacation provisions, and an additional holiday. It also improves pensions and provides and adds new provisions for parental paid leave and for employees who are victims of domestic violence.

Moreover, it contains a commitment from Cleveland-Cliffs to invest US$4 billion in its USW facilities over the course of the contract. The investments will improve production and create sustainable jobs for future generations of Steelworkers. said USW International President Tom Conway. 

"Our negotiating committee is proud that we won a fair contract that improves the standard of living for thousands of USW members and their families now and in the future," Conway said.