CLEVELAND, Nov. 17, 2015 /PRNewswire/ -- Cliffs Natural Resources Inc. (NYSE: CLF) announced today that it is temporarily idling iron ore pellet production at its Northshore Mining operation in Minnesota by Dec. 1, 2015. The Company stated that until its domestic customers' blast furnace capacity utilization rates improve, existing customer demand will be satisfied from its current pellet inventory. Lourenco Goncalves [...]
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CLEVELAND, Oct. 29, 2015 /PRNewswire/ -- Earnings of $0.19 per diluted share from continuing operations driven by significant year-over-year cost savings U.S. Iron Ore cash production costs3 decrease 16 percent to $49 per ton Asia Pacific Iron Ore cash production costs3 decrease 49 percent to $27 per ton Capital expenditures decrease 66 percent to $24 million SG&A expense decreases 55 percent to $22 million [...]
CLEVELAND, Oct. 19, 2015 /PRNewswire/ -- Cliffs Natural Resources Inc. (NYSE: CLF) today stated that in July 2015, Cliffs' CEO and three other Cliffs' executives accepted the invitation by Essar Minnesota's CEO Madhu Vuppuluri to tour the Essar Minnesota construction site. As a result of the site visit and Cliffs' decades of experience in the business, Cliffs believes that Essar's claims of the project's state of [...]
CLEVELAND, Oct. 6, 2015 /PRNewswire/ -- Cliffs Natural Resources Inc. (NYSE: CLF) today announced that, effective October 5, 2015, it has terminated its Pellet Sale and Purchase Agreement with Essar Algoma. Cliffs' decision was made as a result of Essar Algoma's multiple and material breaches under the agreement. While the agreement has been terminated, Cliffs remains open to discussing supplying Essar with pellets on [...]
CLEVELAND, Oct. 1, 2015 /PRNewswire/ -- Cliffs Natural Resources Inc. (NYSE: CLF) today said it intends to announce third-quarter 2015 financial results before the U.S.-market open on Thursday, October 29, 2015. 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, October 29, 2015, at 10 [...]
CLEVELAND, Sept. 10, 2015 /PRNewswire/ -- Cliffs Natural Resources Inc. (NYSE: CLF) today announced that its Board of Directors declared a quarterly cash dividend on the Company's 7.00% Series A Mandatory Convertible Preferred Stock, Class A ("Series A preferred stock"), of $17.50 per share, which is equivalent to approximately $0.4375 per depositary share, each representing 1/40th of a share of Series A preferred stock [...]
CLEVELAND, Sept. 8, 2015 /CNW/ -- Cliffs Natural Resources Inc. (NYSE: CLF) ("Cliffs" or the "Company"), pursuant to the requirements of Canadian securities laws, announced that certain of its affiliated companies have entered into a sale and purchase agreement, dated as of September 7, 2015 (the "Decar Agreement"), in respect of the Decar property with First Point Minerals Corp. (FPX-TSX) ("First Point"). As part of the [...]
CLEVELAND, Aug. 28, 2015 /PRNewswire/ -- Cliffs Natural Resources Inc. (NYSE: CLF) today announced the expiration of and final results for its offer to purchase for cash (the "Tender Offer") up to $123,694,000 (as previously increased, the "Maximum Amount") of its outstanding 3.95% Senior Notes due 2018 (the "Notes"). The Tender Offer expired at midnight, New York City time, on August 27, 2015 (the "Expiration Date [...]
CLEVELAND, Aug. 14, 2015 /PRNewswire/-- Cliffs Natural Resources Inc. (NYSE: CLF) announced today the early results of its previously announced offer to purchase for cash (the "Tender Offer"), subject to certain terms and conditions, certain of its outstanding 3.95% Senior Notes due 2018 (the "Notes"). The Company also announced that it increased the maximum aggregate principal amount of the Notes to be purchased [...]
CLEVELAND, July 31, 2015 /PRNewswire/ -- Cliffs Natural Resources Inc. (NYSE: CLF) announced today the commencement of an offer to purchase for cash (the "Tender Offer"), subject to certain terms and conditions, up to $100,000,000 aggregate principal amount (the "Maximum Amount") of its outstanding 3.95% Senior Notes due 2018 (the "Notes"). The Tender Offer is being made pursuant to an Offer to Purchase and a related [...]
CLEVELAND, July 29, 2015 /PRNewswire/ -- Cliffs Natural Resources Inc. (NYSE: CLF) today reported second-quarter results for the period ended June 30, 2015. Second-quarter 2015 consolidated revenues of $498 million decreased 33 percent from the prior year's second quarter revenues of $748 million. Cost of goods sold decreased by 22 percent to $441 million compared to $564 million reported in the second quarter of 2014 [...]