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Cleveland-Cliffs CEO renews efforts to purchase U.S. Steel: "I have an all-American solution."

Cleveland-Cliffs renews effort to purchase U.S. Steel
Cleveland-Cliffs renews effort to purchase U.S. Steel 03:20

PITTSBURGH (KDKA) - It's a battle over U.S. Steel and the future of steelmaking in the region - with fiery words, the CEO of Cleveland-Cliffs said his company is once again trying to buy the company. 

"The United States of America, Japan, beware, you don't understand who you are," said Lourenco Goncalves, the CEO of Cleveland-Cliffs. 

Goncalves is promising to revitalize the Mon Valley while keeping the operation in American hands. 

"Stop sucking our blood, we are Americans, we love Americans, we love the United States of America," Goncalves said. 

In a vitriolic throwdown, the CEO argued that American steelmaking should stay in American hands, citing his company's turnaround of the Cleveland-Cliffs Butler Works as a prime success story. 

"Butler is the best example that American ownership of steel plants can support existing jobs, generate new jobs, and generate profit," he said. "This is the most profitable plan in our current footprint, the plant was going to shut down five years ago." 

In the wake of President Joe Biden blocking Nippon Steel's bid to buy U.S. Steel, Cleveland-Cliffs has renewed its offer to become the new owner of the once-mighty steel giant. 

In prior discussions, U.S. Steel rejected the Cleveland-Cliffs bid but accepted Nippon's $15 billion offer, an offer President Biden blocked on the grounds of national security. 

While Nippon has promised more than a billion dollars in investments in the Mon Valley operation, Goncalves has promised similar investments. 

"I want to buy, I have a plan, I have an all-American solution," he said. "The all-American solution centers on people, centers on workers." 

U.S. Steel and Nippon have filed suit to overturn President Biden's decision and have also separately sued Goncalves and United Steelworkers Union President David McCall, accusing them of conspiring to kill their deal. 

The U.S. Steel-Nippon merger has the support of several mayors in the Mon Valley who huddled last week with Nippon Vice Chairman Takahrio Mori and vowed to take their case to President-Elect Donald Trump. 

"I need the tax dollars in Clairton," said Mayor Rich Lattanzi. "My people need the jobs, it's got a trickle-down effect, keeping the U.S. Steel and the Nippon merger alive. If not, the Mon Valley is not going to survive." 

Goncalves said he believes he can sway the mayor to his side. 

"They just didn't have the opportunity to work with us, but they will, and I'm sure, 100-percent sure, that they will all support me and we're going to make U.S. Steel as great as it was before," he said. 

With Nippon and U.S. Steel headed to court, the future of steelmaking in our region remains in flux as the war of words continues to heat up.   

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