A Cleveland Cliffs worker checks the water level of a creek that runs by the steel mill in Lyndora on Wednesday April 3, 2024. Butler Eagle File Photo

Local steel producer Cleveland-Cliffs has promoted one of its senior leaders.

Celso Goncalves, who has served as the company’s executive vice president and chief financial officer since 2021, was recently elevated to president and chief financial officer. He was also appointed to the company's board of directors, effective immediately.

Goncalves has been with the company since 2016. Before joining Cleveland-Cliffs, he held investment banking positions at Deutsche Bank and Jefferies.

Cleveland-Cliffs also reported its second-quarter results for the period ended June 30, with revenues of $5.2 billion — a $300 million increase from the previous quarter.

For the second quarter of 2026, the Cliffs recorded a GAAP net loss of $134 million, or $0.25 per diluted share, with an adjusted net loss of $0.20 per diluted share.