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New EPA rule targets Minnesota, Michigan iron miners to cut mercury emissions (NYSE:CLF)

by Index Investing News
May 12, 2023
in Markets
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Dazman/E+ via Getty Images

The Environmental Protection Agency has proposed new regulations that would force the Minnesota and Michigan iron mining industry to cut its mercury emissions by more than half, the Minneapolis Star-Tribune reported Friday.

The proposed limit affects eight taconite plants owned by U.S. Steel (X) and Cleveland-Cliffs (NYSE:CLF) – six in Minnesota and two in Michigan – and would cut the allowable mercury emissions from ~800 lbs/year to 340 lbs.

Minnesota’s Pollution Control Agency previously requested companies to submit plans to reduce mercury emissions with an update scheduled for spring 2024, but companies have faced no penalties for failing to meet the state standard for 72% cuts from 2008 or 2010 levels by 2025.

According to the Star-Tribune report, U.S. Steel (X) said it evaluated six mercury-reduction technologies and concluded cuts of ~30% were more realistic.

In Minnesota, taconite plants emit much more mercury than coal-fired power plants, which have been held to emission limits for several years.

More on U.S. Steel:



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Tags: cutEmissionsEPAIronMercuryMichiganminersMinnesotaNYSECLFruletargets
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