Cliffs slashes 2014 capex by another $100M

May 28, 2014 | 09:01 AM | Michael Cowden

Tags  Cliffs Natural Resources, Cliffs, Gary Halverson, capital expenditures, capex, seaborne iron ore, metallurgical coal, Michael Cowden

CHICAGO — Cliffs Natural Resources Inc. plans to slash 2014 capital spending by $100 million, or 25 percent, in the face of volatile seaborne iron ore and metallurgical coal prices.

The cuts will have no impact on production, employees, projects or customers, a Cliffs spokeswoman told AMM via e-mail May 28, adding that the company’s existing sales volume outlook remains unchanged.....

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