Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, November 19, 2014

Cliffs looks to exit Eastern Canadian iron ore operations, (NYSE: CLF)

Cliffs Natural Resources Inc said it was looking to exit its Eastern Canadian iron ore operations, which may result in the closure of its Bloom Lake mine in Quebec.Cliffs said last month that it was in talks with three "big steelmakers" to invest in the Bloom Lake mine."Despite the continued interest of the prospective equity partners in Bloom Lake ... the potential investment is not achievable within a time frame acceptable to Cliffs," Chief Executive Lourenco Goncalves said in a statement on Wednesday.Nucor Corp was one of the companies in talks over Bloom Lake, the Wall Street Journal reported last month, quoting a person familiar with the matter. (

Cliffs Natural Resources Inc. is an international mining and natural resources company. Shares of CLF fell by 5.9% or $-0.64/share to $10.21. In the past year, the shares have traded as low as $7.00 and as high as $28.12. On average, 11088400 shares of CLF exchange hands on a given day and today's volume is recorded at 12864632.