Cliffs seeks options for Bloom Lake Mine

Feb 14, 2014 | 06:36 PM | Stacy Irish

Tags  Cliffs Natural Resources, Gary B. Halverson, Bloom Lake Mine, iron ore, Stacy Irish

NEW YORK — Cliffs Natural Resources Inc. is looking for potential strategic partners or a possible sale of its Bloom Lake Mine in Fermont, Quebec, its top executive said Feb. 14.

The Cleveland-based company said it is pursuing long-term alternatives for its Bloom Lake Mine, given the wide range of outlooks for iron ore prices.

Cliffs’ senior leadership has decided to reduce 2014 capital expenditures at Bloom Lake while considering the long-term alternatives for the asset. The company said it will continue to operate only Bloom Lake Mine’s Phase 1 operation as it explores its options.....

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