Cliffs to idle Wabush Scully by end of qtr.

Feb 12, 2014 | 12:05 PM | Stacy Irish

Tags  Cliffs Natural Resources, iron ore, Wabush Scully Mine, Pointe Noire pellet plant, Stacy Irish

NEW YORK — Cliffs Natural Resources Inc. will idle its Wabush Scully Mine in Newfoundland and Labrador by the end of the first quarter due to unsustainable costs, the company said in a statement.

The Cleveland-based company said the mine’s fourth-quarter cash costs were $143 per ton, making the iron ore operation too costly to continue running.

Cliffs idled its Wabush Pointe Noire pellet plant in June (, March 12). About 500 employees at both the Wabush Scully Mine and the Point Noire rail and port operation in Quebec will be impacted by these actions.....

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