CLEVELAND — A taconite mining and steel producing company said it is eyeing the potential for mining rare earth elements in Minnesota.

In a call with investors Monday morning, Cleveland-Cliffs CEO Lourenco Goncalves said his company had identified two sites — one in Minnesota and the other in Michigan’s Upper Peninsula — already controlled by the company “where geological surveys show evidence of rare earth mineralization.”

“We continue to assess our potential on both sites,” Goncalves said. “Advancing this initiative would position Cleveland-Cliffs squarely within the nation’s pursuit of critical material self sufficiency. We believe America’s industrial foundation must never depend on China or any other foreign source for essential minerals.”

Goncalves said the focus first would be on

See Full Page