BUZZ-Cleveland-Cliffs rises on talks for $575 mln grant from U.S. energy dept

** Steelmaker Cleveland-Cliffs's shares CLF.N rise 2.3% to $21.74 premarket

** Two CLF projects selected for award for up to $575 million in total funding from the U.S. Department of Energy (DOE)

** Says to pursue two decarbonization investments at Middletown Works in Ohio and Butler Works in Pennsylvania

** Says investment to secure 2,500 jobs at Middletown Works and 1,300 jobs at Butler Works

** Funding is being provided through DOE's Industrial Demonstrations Program from the bipartisan Infrastructure Law and the Inflation Reduction Act

** CLF does expect any material capital spending related to this project in 2024 and reiterates capital expenditures forecast for the year

** YTD, stock had risen 4.1%

(Reporting by Aatreyee Dasgupta)

((Aatreyee.Dasgupta@thomsonreuters.com))