United States

Profile: Cliffs Natural Resources Inc (CLF.N)

CLF.N on New York Stock Exchange

26 May 2017
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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. In addition, the Company operates an iron ore mining complex in Western Australia. In the United States, the Company owned four operational iron ore mines and one indefinitely idled mine, as of December 31, 2016.

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, Canada and Mexico. As of December 31, 2016, the Company operated four iron ore mines located in Michigan and Minnesota. In Michigan, the Company is operating the Tilden mine. In Minnesota, the Company is operating the Northshore, United Taconite and Hibbing mines. As of December 31, 2016, the United States-based mines had an annual rated capacity of 27.4 million long tons of iron ore pellet production, representing 55% of total United States pellet production capacity. During the fiscal year ended December 31, 2016, the Company produced a total of 23.4 million long tons of iron ore pellets, including 2.8 million long tons from its indefinitely-idled Empire mine. The Company produces various grades of iron ore pellets, including standard, fluxed and direct reduction (DR)-grade, for use in its customers' operations 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 ore deposits at Koolyanobbing, Mount Jackson and Windarling. As of December 31, 2016, there were approximately 70 miles separating the three mining areas. Crushing and blending are undertaken at Koolyanobbing, where the crushing and screening plant is located.

The Company competes with ArcelorMittal, United States Steel Corporation, BHP Billiton, Fortescue Metals Group Ltd., Rio Tinto plc and Vale SA.

Company Address

Cliffs Natural Resources Inc

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

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