Multi-million-dollar investment at Gary Works to support domestic supply chain
Iron ore from U. S. Steel’s Minnesota Ore Operations will feed caster
Caster will produce 500,000 tons of pig iron to feed the Company’s electric arc furnaces
GARY, Ind., May 26, 2022–(BUSINESS WIRE)–United States Steel Corporation (NYSE: X) (“U. S. Steel”) employees joined United Steelworkers (USW) leadership, key partners, and elected officials to celebrate the Company’s investment in a pig iron caster at its Gary Works facility. The installation of the pig iron caster is a key part of U. S. Steel’s metallics strategy, capitalizing on its iron ore advantage.
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Rendering of pig iron caster being built at U. S. Steel Gary Works (Graphic: United States Steel Corporation)
“Mined, melted and made in America has always been important to us, and recent world events have demonstrated how critical self-reliance is,” said U. S. Steel President & CEO David B. Burritt. “This investment at Gary Works, to create the necessary material for our lower-emissions electric arc furnaces, is the perfect example of combining the best of integrated and mini mill technologies. It’s also helping propel our transition to our ambitious Best for All® strategy. We’re committed to a future of driving profitable steel solutions for people and the planet.”
The pig machine will be fed with iron ore from the Company’s Minnesota Ore Operations, Minntac and Keetac. The produced pig iron is expected to supply up to 50% of the ore-based metallics needs for Big River Steel Works.
“Gary Works is U. S. Steel’s largest manufacturing plant and its role in the Company and in this community is significant,” said Daniel Killeen, Vice President, Gary Works. “Knowing that the nearly 4,000 employees at Gary Works are not just contributing here, but we now get to utilize our blast furnace efficiency to contribute to the company’s new, most environmentally friendly operations at Big River Steel Works, is something we’re excited about.”
Pre-construction for the caster began in the first quarter of 2022, and start-up is expected in early 2023. The $60 million investment will bring approximately 25 new jobs to the facility.
Gus Atsas, President, United Steelworkers (USW) Local 1014, said, “The process of pigging iron will help secure our plant in an ever-changing global market. The future of Gary Works and the United Steelworkers go hand in hand. Our families and communities depend on our success, and we are proud of the work we do every day.”
“U. S. Steel and their incredible workforce, including members of the United Steelworkers, are the foundation of the Northwest Indiana economy. I am grateful they are making this investment in the steelmaking capabilities of our region and the ability of future workers to continue to make the most environmentally friendly and efficient steel in the world,” said Congressman Frank Mrvan.
Cautionary Language on Forward-Looking Statements:
This release contains information that may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in those sections. Generally, we have identified such forward-looking statements by using the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “target,” “forecast,” “aim,” “should,” “will,” “may” and similar expressions or by using future dates in connection with any discussion of, among other things, operating performance, trends, events or developments that we expect or anticipate will occur in the future, statements relating to volume changes, share of sales and earnings per share changes, anticipated cost savings, statements regarding our future strategies and statements expressing general views about future operating results. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. Forward-looking statements are not historical facts, but instead represent only the Company’s beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company’s control. It is possible that the Company’s actual results may differ, possibly materially, from the anticipated results indicated in these forward-looking statements. Management believes that these forward-looking statements are reasonable as of the time made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. Our Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our Company’s historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, the risks and uncertainties described on this webpage and in “Item 1A. Risk Factors” in our Annual Report on Form 10-K and those described from time to time in our reports filed with the Securities and Exchange Commission.
Founded in 1901, United States Steel Corporation is a leading steel producer. With an unwavering focus on safety, the company’s customer-centric Best for All® strategy is advancing a more secure, sustainable future for U. S. Steel and its stakeholders. With a renewed emphasis on innovation, U. S. Steel serves the automotive, construction, appliance, energy, containers, and packaging industries with high value-added steel products such as U. S. Steel’s proprietary XG3™ advanced high-strength steel. The company also maintains competitively advantaged iron ore production and has an annual raw steelmaking capability of 22.4 million net tons. U. S. Steel is headquartered in Pittsburgh, Pennsylvania, with world-class operations across the United States and in Central Europe. For more information, please visit www.ussteel.com.
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