DULUTH, Minn.--(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.
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
View source version on businesswire.com: http://www.businesswire.com/news/home/20161011005305/en/
Minnesota Power/ALLETE, Inc.
Amy Rutledge, 218-723-7400
Vince Meyer, 218-723-3952
Source: ALLETE, Inc.
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