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Like its Northshore Mining idling, the company said it's using more scrap and more electric-arc furnaces instead of traditional blast furnaces.

Cleveland-Cliffs is part of a Wall Street Journal look at efforts by U.S. steel producers to buy up scrap businesses to ensure a steady supply of raw material for new mills. Plus, The New York Times talks with the parent of a Cleveland Metropolitan School District student as part of a roundup of the ways the Omicron variant is disrupting school and work schedules, and Cleveland Fed president Loretta Mester gains a vote this year on the central bank's interest-rate-setting committee.

Cleveland-Cliffs pays the Mesabi Trust royalties based on the volume of its shipments, the price of taconite and the amount of taconite that was mined from land owned by the trust, namely the Peter Mitchell Mine in Babbitt.

The company will use the scrap metal to feed its electric arc furnaces.