Cleveland-Cliffs Inc. (NYSE:CLF) announced today that it has acquired United States Steel Corporation’s 15 percent equity interest in the Tilden Mining Company for $105 million in cash. Cliffs previously owned an 85 percent interest in the joint venture and now has 100 percent ownership of the mine. The transaction closed on September 29, 2017. With the closing of this transaction, Cliffs has added 1.2 million long [...]
Cliffs Natural Resources Inc. (NYSE: CLF) announces today that it has re-named the Company to its historical name Cleveland-Cliffs Inc. Under the name Cleveland-Cliffs, the Company has been for many decades an important part of the North American iron and steel industry. The name change is part of the celebration of the 170th anniversary of the Company, and is effective immediately. The Company’s NYSE stock ticker [...]
Cliffs Natural Resources Inc. (NYSE:CLF) announced today the expiration of and final results for its previously announced offer to purchase for cash (the “Tender Offer”) any and all of its outstanding 8.250% Senior Secured Notes due 2020 (the "Notes"). The Tender Offer expired at 5:00 p.m., New York City time, on August 4, 2017 (the “Expiration Time”). On August 7, 2017, the Company purchased [...]
Cliffs Natural Resources Inc. (NYSE: CLF) announced today that it has priced an offering of $575 million aggregate principal amount of its 5.75 percent senior guaranteed notes due 2025 (the “Additional Notes”) in an offering that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Additional Notes will constitute an additional issuance of the [...]
Cliffs Natural Resources Inc. (NYSE:CLF) announced today that it intends to offer to sell, subject to market and other conditions, $575 million aggregate principal amount of its 5.75 percent senior guaranteed notes due 2025 (the “Additional Notes”) in an offering that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Additional Notes will [...]
Cliffs Natural Resources Inc. (NYSE:CLF) announced today the commencement of a tender offer to purchase (the “Tender Offer”), subject to certain terms and conditions, any and all of its outstanding 8.250% Senior Secured Notes due 2020 (the "Notes"), at the price set forth below. The Tender Offer is scheduled to expire at 5:00 p.m., New York City time, on August 4, 2017 (the "Expiration Time"), unless extended [...]
Cliffs Natural Resources Inc. (NYSE: CLF) today reported second-quarter results for the period ended June 30, 2017. The Company reported consolidated revenues of $569 million, an increase of 15 percent compared to the prior year's second-quarter revenues of $496 million. Cost of goods sold increased by 5 percent to $424 million compared to $405 million reported in the second quarter of 2016. The Company recorded net [...]
Cliffs Natural Resources Inc. (NYSE: CLF) today said it will be announcing second-quarter 2017 financial results before the U.S.-market open on Thursday, July 27, 2017. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results. When: Thursday, July 27, 2017, at 10 a.m. ET Hosts: Lourenco [...]
Cliffs Natural Resources Inc. (NYSE:CLF) announced today that it has selected a site in Toledo, Ohio for the development of its first hot briquetted iron (HBI) production plant. Midrex Technologies was selected to design, engineer and procure equipment for the new plant, which will have the nominal capacity to produce 1.6 million tons of HBI per year. Lourenco Goncalves, Chairman, President and Chief Executive Officer [...]
Cliffs Natural Resources Inc. (NYSE: CLF) today issued the following statement regarding President Trump’s decision for the withdrawal of the United States’ participation in the Paris climate accord. Lourenco Goncalves, Cliffs' Chairman, President and Chief Executive Officer, said, “Cliffs applauds President Trump for his decision to withdraw from the Paris climate accord. The Paris climate accord is a [...]
Cliffs Natural Resources Inc. (NYSE: CLF) announced today that production of the new Mustang superflux pellet has started at its United Taconite mine. The start up of the new production equipment, including supporting infrastructure, was flawlessly executed on schedule, after nine months of construction, as planned, and within the original total investment budget of $75 million. Lourenco Goncalves, Chairman, President and [...]
CLEVELAND, May 4, 2017 /PRNewswire/ -- Cliffs Natural Resources Inc. (NYSE: CLF) is responding to articles published today by Barron's Ben Levisohn and Axiom Capital Management's Gordon Johnson with respect to an open market purchase of 200,000 Cliffs shares made yesterday by its Chairman, President and CEO, Lourenco Goncalves. These comments include statements that are inaccurate and materially misleading regarding Mr [...]
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