TORONTO (miningweekly.com) – US iron-ore producer Cliffs Natural Resources has cancelled a pellet supply agreement with primary steel producer Essar Algoma with immediate effect.
According to Cliffs, Essar Algoma had committed multiple and material breaches under the sale and purchase agreement.
Despite the agreement being terminated, Cliffs said it was open to discussing supplying Essar with pellets on commercially reasonable terms, consistent with a just-in-time iron-ore supply arrangement.