Cliffs' CEO Elected Chairman of American Iron and Steel Institute

May 21, 2012

Platts

Click here for the AISI press release in PDF format.

New York - The American Iron and Steel Institute's board on Monday elected to a one-year term as chairman Joseph Carrabba, chairman, president and CEO of Cliffs Natural Resources, a global iron ore miner and metallurgical coal producer.

Carrabba succeeds US Steel's John Surma as AISI chairman.

"We welcome Joe's leadership during a pivotal period for the North American steel industry," AISI President and CEO Thomas Gibson said in a statement.

"I believe the steel industry can continue to help lead the economy out of recession," said Carrabba. "We see this in how the industry is serving demand in the growing energy sector, including expansion of the domestic shale plays, by the strong reception for new advanced high strength steel in the automotive industry and in the industry's significant jobs multiplier impact, with every one job supporting seven jobs in other sectors," he said.

Carrabba said he looks forward to working with AISI and its member companies -- mainly North America's major steel producers -- in "advocating for policies that strongly support the competitiveness of America's dynamic steel industry."

Carrabba joined Cliffs in April 2005 as president and chief operating officer. He became president and CEO in September 2006 and was elected chairman in May 2007.

He joined Cliffs from Rio Tinto where he served for 22 years in a variety of leadership capacities at global locations.

Cleveland-based Cliffs operates iron ore and coal mines in North America and two iron ore mining complexes in western Australia. The company also has a 45% economic interest in a coking and thermal coal mine in Queensland, Australia. In addition, Cliffs has a major chromite project in Ontario that is in the feasibility stage of development.

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Click here for the AISI press release in PDF format.