Cliffs Natural Resources Begins Producing Mustang Iron Ore Pellet at United Taconite Mine

Cliffs Natural Resources Inc. announced that production of the new Mustang superflux pellet has started at its United Taconite mine. The start up of the new production equipment, including supporting infrastructure, was executed on schedule, after nine months of construction, and within the original total investment budget of $75 million.

Read more ...

MAC, PDAC Applaud Canada’s 2017 Budget

The Mining Association of Canada (MAC) and the Prospectors & Developers Association of Canada (PDAC) issued statements in late March applauding measures included in the Canadian federal government’s 2017 budget that support a competitive and responsible mining industry in Canada. MAC specifically welcomed planned investments in key areas such as infrastructure and innovation but also encouraged the government to act quickly on these items to improve Canada’s investment climate. “This is especially important given that Canada has experienced nine consecutive quarters of declining business investment and is facing competitiveness challenges from global developments,” the MAC statement said.

Read the Whole Article in our Digital Edition

Cliffs’ Goncalves Expects 2017 to be Phenomenal

Cliffs Natural Resources reported U.S. iron ore (USIO) pellet sales for the first quarter of 2017 of 3.1 million long tons, a 63% increase compared to the first quarter of 2016 (1 long ton = 1.12 short tons). “During the first quarter, we put our finishing touches on what has been a remarkable operational, commercial and financial transformation of this company,” said Lourenco Goncalves, chairman, president and CEO, Cliffs. “Over the last two and half years, Cliffs has transformed itself into a lean and focused company, with a strong balance sheet and a lot less to pay in interest expense. This is particularly evident in our strong first quarter results… We expect 2017 to be a phenomenal year of EBITDA and free cash flow generation.”

Read the Whole Article in our Digital Edition

Resource Center Whitepapers, Videos, Case Studies

Let's stay in touch!

All of the latest mining news and our digital edition sent to your inbox once a week.

We'll never share your email address, and you can opt out at any time, we promise.