“At this time, I would ask everyone to take care of each other.”

Currently, the mining giant own the Koolyanobbing complex and serve much of the Asian iron ore markets, with export having been processed through the Esperance port for the last 24 years.

Last financial year, iron ore from the complex represented more than 75 per cent of the export volume through the Esperance port.

The announcement was first made on January 25 during a quarterly earnings call, after Cleveland-Cliffs’ chief executive officer Lourenco Goncalves indicated the increasing preference for ‘higher grade’ ores had impacted the non-core ‘low-grade’ operation in Australia, with mining operations ‘likely to cease’ as a result.

Mr Goncalves said he appreciated the hard work and ‘sacrifices’ of the Australian operations and would ensure the market remained informed on the status of their operations throughout the year.