Profile: Cliffs Natural Resources Inc (CLF.N)

CLF.N on New York Stock Exchange

4.73USD
27 Mar 2015
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Cliffs Natural Resources Inc., incorporated on February 22, 1985, is an international mining and natural resources company. The Company is an iron ore producer and a producer of metallurgical coal. The Company’s operations are organized according to product category and geographic location: U.S. Iron Ore, Eastern Canadian Iron Ore, North American Coal, Asia Pacific Iron Ore, Asia Pacific Coal, Latin American Iron Ore, Ferroalloys, and its Global Exploration Group. The Company operates in four segments: U.S. Iron Ore, Eastern Canadian Iron Ore, North American Coal and Asia Pacific Iron Ore. In the United States, it operates five iron ore mines in Michigan and Minnesota, five metallurgical coal mines located in West Virginia and Alabama and one thermal coal mine located in West Virginia. It also operates two iron ore mines in Eastern Canada that primarily provide iron ore to the seaborne market for Asian steel producers.

U.S. Iron Ore and Eastern Canadian Iron Ore

The Company is an iron ore producer, primarily selling production from U.S. Iron Ore to integrated steel companies in the U.S. and Canada. The Company manages and operates five iron ore mines located in Michigan and Minnesota. The U.S.-based mines currently have an annual rated capacity of 32.9 million tons of iron ore pellet production, representing 59 percent of total U.S. pellet production capacity. Based on its equity ownership in these mines, its share of the annual rated production capacity is currently 25.5 million tons, representing 46 percent of total U.S. annual pellet capacity. At December 31, 2013, it produced a total of 27.2 million tons of iron ore pellets, including 20.3 million tons for account and 6.9 million tons on behalf of steel company partners of the mines.

Eastern Canadian Iron Ore

Eastern Canadian Iron Ore is producing a concentrate product at Wabush operation in Eastern Canada. The concentrate products are marketed toward steel producers, predominately based in Asia, that have sintering capabilities at their steel-making operations. The Bloom Lake concentrate is blended with other sinter fines and materials at high temperatures, creating a direct charge product used in blast furnace operations. At December 31, 2013, it produced a total of 8.7 million metric tons of iron ore pellets and concentrate.

Asia Pacific Iron Ore

The Company’s Asia Pacific Iron Ore operations are located in Western Australia and include its wholly owned Koolyanobbing complex and its 50% interest in Cockatoo Island. Production in 2013, was 11.1 million metric tons. These two operations supply a total of three direct-shipping export products to Asia via the global seaborne trade market. Koolyanobbing produces a standard lump and fines product. Cockatoo Island produces a single premium fines product. The lump products are directly fed to blast furnaces, while the fines products are used as sinter feed. Koolyanobbing is a collective term for the operating deposits at Koolyanobbing, Mount Jackson and Windarling. There are approximately 60 miles separating the three mining areas. Cockatoo Island is located off the Kimberley coast of Western Australia, approximately 1,200 miles north of Perth Cockatoo Island produces a single high-grade iron ore product known as Cockatoo Island Premium Fines. As of December 31, 2013, it has no remaining rehabilitation obligations related to Cockatoo Island.

North American Coal

The Company owns and operates five metallurgical coal mines located in West Virginia and Alabama and one thermal coal mine located in West Virginia that had a rated capacity of 9.4 million tons of production annually in 2013. In 2013, the Company sold a total of 7.3 million tons. North American Coal’s metallurgical coal production is sold to global integrated steel and coke producers in Europe, Latin America and North America, and its thermal coal production is sold to energy companies and distributors in North America and Europe.

The Company competes with WISCO, ArcelorMittal Mines Canada, U.S. Steel Canada Inc., Alpha Natural Resources, Inc., Patriot Coal Corporation, CONSOL Energy Inc., Arch Coal, Inc., Walter Energy, Inc., Peabody Energy Corp, Anglo, BHP Billiton, Fortescue Metals Group Ltd., Rio Tinto plc, Vale, Teck Cominco American Incorporated.

Company Address

Cliffs Natural Resources Inc

200 Public Sq Ste 3300
CLEVELAND   OH   44114-2315
P: +1216.6945700

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