Profile: Cliffs Natural Resources Inc (CLF.N)
7 Dec 2016
Cliffs Natural Resources Inc., incorporated on February 22, 1985, is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. The Company's segments include U.S. Iron Ore and Asia Pacific Iron Ore. The Company operates an iron ore mining complex in Western Australia and owns approximately two non-operating iron ore mines in Eastern Canada.
U.S. Iron Ore
The Company is a producer of iron ore pellets, primarily selling production from U.S. Iron Ore to integrated steel companies in the United States and Canada. The Company manages approximately five iron ore mines located in Michigan and Minnesota. In Michigan, it operates over two iron ore mines, Empire mine and Tilden mine. In Minnesota, it operates approximately one iron ore mine, Hibbing mine. The other two iron ore operations in Minnesota, United Taconite mine and Northshore mine. The Company produces a total of approximately 26.1 million tons of iron ore pellets, including over 19.3 million tons for its account and approximately 6.8 million tons on behalf of steel company partners of the mines. It produces various grades of iron ore pellets, including standard and fluxed, for use in its customers' blast furnaces as part of the steelmaking process. Each of its U.S. Iron Ore mines is located near the Great Lakes.
Asia Pacific Iron Ore
The Company's Asia Pacific Iron Ore operations are located in Western Australia and consist of its Koolyanobbing operation. The Koolyanobbing operations serve the Asian iron ore markets with direct-shipped fines and lump ore. The lump products are fed directly to blast furnaces, while the fines products are used as sinter feed. Koolyanobbing is a collective term for the deposits at Koolyanobbing, Mount Jackson and Windarling. There are approximately 70 miles separating over three mining areas. Banded iron formations host the mineralization, which is predominately hematite and goethite. Crushing and blending are undertaken at Koolyanobbing, where the crushing and screening plant is located.
The Company competes with ArcelorMittal, U.S. Steel, Alpha Natural Resources, Inc., Anglo, BHP Billiton, Fortescue Metals Group Ltd., Rio Tinto plc and Vale.
Cliffs Natural Resources Inc
200 Public Sq Ste 3300
CLEVELAND OH 44114-2315
Company Web Links
- BRIEF-Cliffs Natural Resources director Fisher reports open market purchase of 4,000 shares of co's common stock $5.66 per share
- BRIEF-Cliffs Natural Resources appoints Eric Rychel to board of directors
- BRIEF-Cliffs reaches tentative agreement with USW on new labor contract for Michigan, Minnesota mines
- BRIEF-Cliffs Natural calls for full redemption of senior notes due January 2018
- BRIEF-WEC Energy and Cliffs Natural Resources issue joint clarification statement regarding proposed energy project