Minnesota Power Reaches Five-Year Contract to Supply Electricity to U.S. Steel
October 11 2016 - 6:30AM
Business Wire
ALLETE (NYSE: ALE) announced today that Minnesota Power has
reached a five-year agreement to supply electricity to U.S. Steel
through at least December 2021.
The largest taconite producer on Minnesota’s Iron Range, U.S.
Steel owns the Minntac and Keetac taconite plants and mines on
Minnesota’s Iron Range, with a combined production capacity of 22
million tons of iron ore pellets per year. U.S. Steel also has a
14.7 percent minority ownership interest in Hibbing Taconite Co.,
where the annual production capacity is 9.1 million tons of iron
ore pellets.
“This agreement is a testament to Minnesota Power’s commitment
to the future of mining on the Iron Range and to the enduring
significance of the region’s natural resource industries,” said
Alan R. Hodnik, ALLETE Chairman, President and CEO. “The strong
working relationships Minnesota Power has cultivated over the years
with U.S. Steel and other large industries in northeastern
Minnesota laid the foundation for this agreement. Securing
contracts with these large customers cements Minnesota Power’s
position as the premier electric energy supplier to the Iron
Range.”
Minnesota Power filed a petition this week with the Minnesota
Public Utilities Commission requesting regulatory approval of the
new contract. ALLETE, Inc. is an energy company with headquarters
in Duluth, Minnesota. In addition to its electric utilities,
Minnesota Power and Superior Water, Light and Power of Wisconsin,
ALLETE owns ALLETE Clean Energy, based in Duluth; BNI Energy in
Center, North Dakota; U.S. Water Services in St. Michael,
Minnesota; and has an 8 percent equity interest in the American
Transmission Co. More information about ALLETE is available at
www.allete.com. ALE-CORP
The statements contained in this release and statements that
ALLETE may make orally in connection with this release that are not
historical facts, are forward-looking statements. These
forward-looking statements involve risks and uncertainties and
investors are directed to the risks discussed in documents filed by
ALLETE with the Securities and Exchange Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20161011005305/en/
Minnesota Power/ALLETE, Inc.Amy Rutledge,
218-723-7400arutledge@mnpower.comorInvestor Contact:Vince Meyer,
218-723-3952vmeyer@allete.com
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