Triple Win for America's Cleveland-Cliffs at Ninth Annual S&P Global Platts Global Metals Awards

LONDON, Oct. 14, 2021 - Cleveland-Cliffs Inc., the largest flat-rolled steel producer in North America and supplier to the North American automotive industry, was a triple winner at the 2021 S&P Global Platts Global Metals Awards, lauded with Metals Company of the Year, Deal of the Year, and CEO/Chairperson of the Year awards. The Awards program, in its ninth year, recognizes exemplary performance in 16 categories across the metals and mining arenas.

Honorees from three continents and six countries were heralded Thursday night at the S&P Global Platts Global Metals Awards gala, held for the first time both virtually and in-person at a venue in central London and reflecting the industry's desire to return to the pre-pandemic physical event it has historically enjoyed. Underpinning the round-the-globe scope of this year's program, were 113 finalists from 21 countries, from which winners were chosen by an independent panel of judges. Watch the showcase event: https://www.spglobal.com/platts/global-metals-awards/video-gallery.

In its selection of Cleveland-Cliffs for top honors in three categories, the Global Metals Awards' judges commended the company and its helmsman Lourenco Goncalves for pervasive strength in strategy and execution. They pointed to the deal-making and project-management acumen - demonstrated through two key acquisitions and completion of a plant that produces an environmentally sustainable alternative to ferrous scrap and imported pig iron -- all simultaneous to implementation of a panoply of safety measures to safeguard its workforce during the pandemic.

Judges called the leadership of Lourenco Goncalves "nothing short of remarkable" as he transformed a traditional iron ore mining and supply business into a world industrial powerhouse and North America's largest flat-rolled steel producer through the acquisitions of AK Steel and ArcelorMittal USA.

"A triple win is no small feat, especially in the unprecedented circumstances of the last year and a half," said Saugata Saha, president of S&P Global Platts, of the top honors bestowed on Mr. Goncalves and Cleveland-Cliffs. "We congratulate Cleveland-Cliffs and its CEO, as well as all the winners and finalists, for persevering through unique challenges and continuing to drive performance while embracing change."

Dave Ernsberger, Global Head of Pricing and Market Insight, S&P Global Platts, said: "Not surprisingly, but certainly encouraging, is the industry's increasing prioritization of innovation for a lower-carbon future, which was evident in the nominations and focus of Awards category participation in this year's Global Metals Awards."

Winning ESG Breakthrough Award, a debut category this year and heavily contested, was Aço Verde do Brasil. This Award recognizes advancements in low-carbon energy and metals technologies, energy transition metals and raw materials, and such things as greenhouse gas emissions reductions and ESG benchmarks certification standards and programs. Aço Verde has become one of the first companies to produce "green steel" using 100% renewable energy. It avoids the emission of millions of tons of carbon dioxide into the environment by using sustainable charcoal derived from eucalyptus and process gases.

Lifetime Achievement Award accolades went to David DeYoung, with judges heralding his near-40-year career at Alcoa Corporation and accomplishments in emerging technologies, including those with carbon emissions reduction benefits and processes described by industry players as 'revolutionary.' Judges were impressed by his contributions to increased safety and efficiency in aluminum production, innovation around improved sustainability of hard alloys and development of metal purification processes. In addition, Mr. DeYoung won praise for leadership, mentorship and inspiring others through his sharing of knowledge.

Emilie Schouten, senior vice president of human resources at Coeur Mining, Inc. took home the Rising Star Individual Award. She leads a team of human resource professionals across the US, Mexico and Canada and was described by the judges panel as a "stand out" among her industry peers as a leader in the creation of a diverse and inclusive culture. Snagging Rising Star Company Award was South Korea's POSCO Chemical Co., Ltd, recognized by judges for strong ESG credentials integrated into its management policies and its growth progress in the lithium-ion battery space over the last five years.

For full details of the 2021 winners and judges' rationale, access the S&P Global Platts Insight Magazine and on-demand viewing of the showcase gala: https://gma.platts.com/.

Winners of the 2021 S&P Global Platts Global Metals Awards are:

Metals Company of the Year
Cleveland-Cliffs Inc.

CEO of the Year
Lourenco Goncalves, Cleveland-Cliffs Inc.

Lifetime Achievement Award
David DeYoung, Alcoa Corporation

Deal of the Year
Cleveland-Cliffs Inc.

ESG Breakthrough Award
Aço Verde do Brasil

Corporate Social Responsibility Award
PJSC Magnitogorsk & Iron & Steel Works

Industry Leadership Award: Aluminum
En+ Group

Industry Leadership Award: Base, Precious & Specialty Metals
Hindustan Zinc Limited

Industry Leadership Award: Mining & Raw Materials
Alcoa Corp.

Scrap & Recycling Industry Leadership Award
Schnitzer Steel Industries, Inc.

Steel Industry Leadership Award
SSAB

Financial Metals Service Provider of the Year
Bank of America

Physical Metals Service Provider of the Year
Reliance Steel & Aluminum Co.

Rising Star Company Award
POSCO Chemical Co. Ltd.

Rising Star Individual Award
Emilie Schouten, Coeur Mining Inc.

New Technology for the Metals and Mining Industry
Boston Metal

Additional information can be found at the S&P Global Platts Global Metals Awards website (https://gma.platts.com/).

It's never too early to think about nominations for the 2022 S&P Global Platts Global Metals Awards. Watch for key nominations dates and other information at https://www.spglobal.com/platts/global-metals-awards. Or contact the Global Metals Awards team at globalmetalsawards@spglobal.com.

Watch for more information about the S&P Global Platts sister awards program, the 23^rd annual S&P Global Platts Global Energy Awards, set for December 9^th in New York City and virtually.

About S&P Global Platts

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S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.platts.com.

Media Contacts:
Americas: Kathleen Tanzy +1 917-331-4607, Kathleen.tanzy@spglobal.com

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SOURCE S&P Global Platts