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Lourenco Goncalves

Chairman, President & Chief Executive Officer, CLEVELAND-CLIFFS INC

Search every verified Lourenco Goncalves interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Lourenco Goncalves discussed Cleveland-Cliffs’ third-quarter 2026 results, reporting adjusted EBITDA of $612 million, which he described as the strongest in three years, with adjusted EPS of $0.28 and revenue of $5.61 billion. He attributed the performance to a strong contract renewal environment and well-maintained equipment, and announced the postponement of the Burns Harbor Seine project from mid-2027 to April 2028 to maximize value from existing assets. Goncalves also outlined plans to increase production of electro-galvanized steel for exposed automotive parts, noting that clients are being asked to commit to minimum tonnage under take-or-pay contracts. In public remarks, Goncalves addressed the Stelco situation in Canada, stating that Cleveland-Cliffs remains in compliance with 29 undertakings tied to employment levels, and that any workforce reductions were temporary measures to protect 2,150 jobs. He said the company had repeatedly proposed a "Fortress North America" solution with Canadian steel industry support but was unsuccessful, and he criticized the Canadian government’s handling of trade and tariffs, including its failure to address galvanized steel imports. Goncalves expressed support for Section 232 steel tariffs as national security measures, while arguing that Canada’s case differs due to geographic proximity and trade interdependence. He also suggested that if the Canadian government sought to force a sale of assets, legal due process would apply, and he compared such action to the 2008 Venezuelan takeover under Hugo Chavez.

Recent appearances

Notable quotes

“I absolutely support section 232 steel tariffs. National security based tariffs to protect the domestic steel industry in the United States. Every single country that dumps steel into the United States is affected. The case of Canada is a different one. We have a geographical proximity and codependence in trade that needs to be addressed. Had not the Canadian mission that was negotiating or close to a deal that was a”

“We have 29 undertakings. One of them is that we need to keep the same levels of employment both for union workers and non-union workers and we report these levels of employment every year. So, last time we reported it was in the one-year anniversary. We're in compliance. We will be in compliance when we report again in November and we plan to be in compliance of the in all years ahead. This a temporary measure, that ”

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