LISLE,
Ill., April 24, 2023 /PRNewswire/ -- SunCoke
Energy, Inc. (NYSE: SXC) and Cleveland-Cliffs Inc. have agreed to a
12-year extension of their existing contract, under which SunCoke
will provide 1.22 million tons of metallurgical coke annually to
Cleveland-Cliffs from its Indiana Harbor cokemaking facility
located in East Chicago, Indiana.
The key provisions of the extension agreement are similar to the
existing agreement.
"This contract renewal affirms the long-term partnership of
SunCoke and Cleveland-Cliffs," said Mike
Rippey, CEO of SunCoke. "We are pleased to continue
supplying coke from our Indiana Harbor facility to the largest
blast furnace in North
America."
"Extending this contract positions Indiana Harbor well for the
future," added Katherine Gates,
President of SunCoke.
The Indiana Harbor cokemaking operation is SunCoke's largest
U.S. facility, and was the first commercial application of our
advanced heat recovery technology, having begun operations in
1998.
ABOUT SUNCOKE ENERGY, INC.
SunCoke Energy, Inc. (NYSE: SXC) supplies high-quality coke to
domestic and international customers. Our coke is used in the blast
furnace production of steel as well as the foundry production of
casted iron, with the majority of sales under long-term,
take-or-pay contracts. We also export coke to overseas customers
seeking high-quality product for their blast furnaces. Our process
utilizes an innovative heat-recovery technology that captures
excess heat for steam or electrical power generation and draws upon
more than 60 years of cokemaking experience to operate our
facilities in Illinois,
Indiana, Ohio, Virginia and Brazil. Our logistics business provides export
and domestic material handling services to coke, coal, steel, power
and other bulk customers. The logistics terminals have the
collective capacity to mix and transload more than 40 million tons
of material each year and are strategically located to reach Gulf
Coast, East Coast, Great Lakes and international ports. To learn
more about SunCoke Energy, Inc., visit our website at
www.suncoke.com.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" (as
defined in Section 27A of the Securities Act of 1933, as amended
and Section 21E of the Securities Exchange Act of 1934, as
amended). Any statements made in this press release that are
not statements of historical fact are forward-looking statements
and should be evaluated as such. Forward-looking statements often
may be identified by the use of such words as "believe," "expect,"
"plan," "project," "intend," "anticipate," "estimate," "predict,"
"potential," "continue," "may," "will," "should," or the negative
of these terms, or similar expressions. However, the absence
of these words or similar expressions does not mean that a
statement is not forward-looking. Forward-looking statements
represent only our beliefs regarding future events, many of which
are inherently uncertain and involve significant known and unknown
risks and uncertainties (many of which are beyond the control of
SunCoke) that could cause our actual results and financial
condition to differ materially from the anticipated results and
financial condition indicated in such forward-looking statements.
These risks and uncertainties include, but are not limited to, the
risks and uncertainties described in Item 1A ("Risk Factors") of
our Annual Report on Form 10-K for the most recently completed
fiscal year, as well as those described from time to time in our
other reports and filings with the Securities and Exchange
Commission ("SEC").
In accordance with the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, SunCoke has included in
its filings with the SEC cautionary language identifying important
factors (but not necessarily all the important factors) that could
cause actual results to differ materially from those
expressed in any forward-looking statement made by SunCoke. For
information concerning these factors and other important
information regarding the matters discussed in this press release,
see SunCoke's SEC filings, copies of which are available free of
charge on SunCoke's website at www.suncoke.com or on the SEC's
website at www.sec.gov. The forward-looking statements
included in this press release are expressly qualified in their
entirety by such cautionary statements.
Forward-looking statements are not guarantees of future
performance, but are based upon the current knowledge, beliefs and
expectations of SunCoke management, and upon assumptions by SunCoke
concerning future conditions, any or all of which ultimately may
prove to be inaccurate. Unpredictable or unknown factors not
discussed in this press release and related conference call also
could have material and adverse effects on matters described by the
forward-looking statements contained in this press release.
You should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press
release. SunCoke does not intend, and expressly disclaims any
obligation, to update or alter its forward-looking statements (or
associated cautionary language), whether as a result of new
information, future events, or otherwise, after the date of this
press release except as required by applicable law.
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SOURCE SunCoke Energy, Inc.