Cleveland-Cliffs Inc. (CLF) CEO Lourenco Goncalves Presents at Goldman Sachs Global Metals & Mining Conference (Transcript)

Cleveland-Cliffs Inc. (NYSE:CLF) Goldman Sachs Global Metals & Mining Conference November 20, 2019 11:15 AM ET

Company Participants

Lourenco Goncalves - Chairman, President & Chief Executive Officer

Conference Call Participants

Matt Korn - Goldman Sachs
Thiago Ojea - Goldman Sachs
Paul Young - Goldman Sachs

Matt Korn

All right. Good morning to everybody. Great to have you here still. For those of you who've been through, you know that I'm Matthew Korn. I'm the analyst here for North America Metals and Mining. Extremely pleased here to have here from Cleveland-Cliffs, Lourenco Goncalves. Again, thank you very much. Always a pleasure to see you.

Lourenco Goncalves

Thank you for having me here, Matthew.

Matt Korn

Of course, of course. And we're also here because iron ore, iron pellets, fuel markets have been such a major piece of conversations with myself and my clients. I've actually brought in a couple of my other colleagues here, other analysts, lead analyst here from Goldman Sachs.

We have Thiago Ojea, who's in São Paulo, who covers our LatAm metals and mining, of course, covers Vale, which should be I think an interesting angle, as well we have Paul Young from Australia. And Paul, very, very conversant in this market. Of course, covers BHP, covers Rio Tinto, Fortescue and the rest.

So, again, it should be a wide range of discussion, something that I think we're going to focus, particularly on Cliffs, but also we'll be able to talk more about the iron ore markets, as well, overall.

Question-and-Answer Session

Q - MattKorn

So, with that, I'll start with some questions. We'll see where the conversation goes. All right? So, of course, we have all been watching the IODEX. We've all been watching the iron ore markets, all right. Reached highs early this year after the Brazilian dam collapse, right? But the IODEX, the Atlantic pellet premium, they have eased