November 2016
The US iron ore industry faces an uncertain future as domestic crude steel production declined nearly 10% between 1995 and 2015 and the dominant share of production switched from BF to EAF. Nearly all production from Lake Superior mines—the US’ only domestic sources of iron ore—is currently converted to BF pellets for domestic BF steel production. Cliffs has decided to move up the value chain and produce DR-grade pellets, which has promise, but will face competition from seaborne imports, even if a market develops.
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 The only domestic sources of iron ore in the United States are seven mines in the Lake Superior region with a combined production of around 45-50Mtpa of pellet feed. Production is from Paleoproterozoic magnetite iron formations (taconites) in Minnesota (Mesabi Range) and Michigan (Marquette Range). Correlative rocks host iron deposits in the Labrador Trough in Canada. The deposits were first discovered in 1844 and first shipments were made in 1852. Iron Ore and Steel Sites in North America