Cliffs Natural profit slumps on lower iron ore prices
Oct 24 (Reuters) - Iron ore and coal miner Cliffs Natural Resources Inc's third-quarter profit slumped 85 percent as iron ore prices fell.
Third-quarter profit at the Cleveland-based company fell to $85.1 million, or $0.59 per share, from $601.2 million, or $4.15 per share, a year earlier.
Revenue fell 26 percent to $1.5 billion.
- Malaysia plane search straddles continent as police focus on crew |
- Crimeans vote over 90 percent to quit Ukraine for Russia |
- Crimea asks to join Russia after Soviet-style vote |
- Ukraine, Russia agree Crimea truce until March 21-Ukraine minister
- Stocks near one-month low as western sanctions on Russia loom |