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Northshore Mining Co history
Northshore Mining Co company history timeline
Reserve started up in 1955.
Doctor E.W. Davis, who worked for 40 years on the taconite process until retiring in 1955 at the University of Minnesota Mines Experiment Station, also became involved in the project.
1956 was a banner year for Silver Bay.
In 1958, William Kelley High School, named for Reserve’s first president, was opened eliminating the long 28-mile bus ride to Two Harbors.
The 1960’s brought a second wave of construction when in April 1960, Reserve announced it was expanding its production from 6 million to 10 million tons per year.
Rocky Taconite came to symbolize Silver Bay as the “Taconite Capitol of the World” when it was dedicated in 1964.
Kelly came here to work at Reserve in 1971.
The trial began in August, 1973.
In April 1974, he called Reserve's chairman, C. William Verity, to the stand.
Stuart, Harrison H. The Cleveland-Cliffs Iron Co. (1974).
Finally, on July 7, 1977, Reserve was given permission to build a tailings storage basin 7 miles inland from Silver Bay at Mile Post 7.
Starting in 1980 it piped its waste to the new pond, several miles away from Lake Superior.
In 1985, the company reorganized by forming Cleveland-Cliffs Inc as the parent company and the following year, Cleveland-Cliffs acquired Pickands, Mather, & Co, then one of its chief competitors.
Reserve cut its production and workforce and finally closed on July 31, 1986.
In the spring of 1989, two companies showed a strong interest in acquiring Reserve.
In the fall of 1994, Cyprus North Shore Mining was sold to Cleveland Cliffs.
In 1994 the firm acquired a property now called Northshore Mining Co. in Silver Bay, MN, which was one of the industry's first iron ore pellet producers.
By 1995, Cleveland-Cliffs managed 7 iron mines in the United States, Canada, and Australia that supply steel-producing partners and customers in North America, Europe, and the Pacific Basin.
In 2003, the reported that the company was in negotiations to supply iron-ore for China's steel industry.
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