Eveleth Mines, also called EVTAC Mining Co., filed a Chapter 11 reorganization in May. The company shut down its operations in northeast Minnesota stopped about the same time, laying off 450 workers. A final decision by Cleveland-Cliff, the largest supplier of iron ore pellets in North America, and Laiwu, one of China's largest steel companies, to proceed with a bid and reopen the mines will be made after due diligence is completed and a deal is reached with key Eveleth Mines stakeholders. A sale would have to be approved by the U.S. Bankruptcy Court in St. Paul and Eveleth Mine's creditors.
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