JD Vance Announces 500M Grant for Steel Plant
Vice President JD Vance announced a five hundred million dollar federal grant for the Cleveland-Cliffs steel plant in Middletown, Ohio. The company will use the funds for traditional steelmaking methods and upgrades alongside a matching investment.
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CLEVELAND-CLIFFS INC will receive a $500M federal grant to update its Middletown Works steel plant, redirecting funds previously earmarked for green technology. The pivot shifts federal dollars from hydrogen-powered furnaces to traditional coal-based methods and artificial intelligence upgrades. CEO Lourenco Goncalves said the company will match the federal funding with a $500M investment, bringing total spending on the United States facility to $1B.
