These are challenging times on the Iron Range in more ways than one. Of course, prices are rising while economic uncertainty settles in across the United States. But there is a great sense of generalized anxiety surrounding this region’s mining industry, dominated locally by U.S. Steel and Cleveland-Cliffs.
Cliffs’ Minorca mine was idled indefinitely last spring and there’s no news to report. Hibbing Taconite was reduced from two production lines to one as the facility sunsets its current mine plan over the next four years. This is terribly nerve-wracking for all affected.
But it’s not just that.
Something really big happened this year. Nippon Steel of Japan bought U.S. Steel, including Minnesota’s biggest taconite mine at Minntac in Mt. Iron and Keewatin Taconite. Not only did this seismic merger take place, but no one — not even folks who work for the company — seem to know exactly what that means yet.
On one hand, the deal includes a moratorium on layoffs and plant closures, which seems reassuring. On the other, iron ore prices are dropping amid oversupply. Something’s gotta give, but what? And where? Or, if you work for U.S. Steel, who?
In the midst of this, we now learn that President Trump is using the government’s so-called “golden share” in U.S. Steel that was negotiated as part of approving the aforementioned $14.9 billion merger. U.S. Steel planned to stop production of steel at its Granite City Works in Illinois, while retaining workers for maintenance. The administration now says that the company must continue making steel there.
I’ve researched the 124-year history of U.S. Steel more than most, and struggle to find a comparison to this kind of government intervention in day-to-day operations of the company. This is far different than facilitating added wartime production or the multitude of tax incentives granted over the many decades. Essentially, the government is telling the company to make steel when there is no demand.
This is what they did in China that made us so mad at China. Only now we’re doing it to ourselves. What happens when stockpiles get bigger and bigger? Everyone here knows.
In today’s column, I argue that a better use of the “golden share” would be to invest in the needed upgrades to U.S. Steel facilities around the country, including here on the Iron Range. There are always ups and downs in the market, but the bigger threat to the Iron Range is our need to modernize our industrial infrastructure with new technology.
Read “Trump bossing around U.S. Steel could cost jobs down the line,” in the Tuesday, Sept. 23, 2025 edition of the Minnesota Star Tribune.
Aaron J. Brown is a columnist and member of the editorial board for the Minnesota Star Tribune. His new book about Hibbing Mayor Victor Power and his momentous fight against the world’s largest corporation will be out soon.
