Century hires former Cliffs, Consolidated Thompson manager

Canadian iron-ore hopeful Century Iron Mines has appointed Hubert Vallee, a former Cliffs and Consolidated Thompson manager, as logistics, mine development and operations VP, the company said on Monday. Vallee was part of the team that built the...

Cliffs Natural Resources to spend $1bn in 2012

Diversified miner Cliffs Natural Resources has budgeted $1-billion for capital expenditure in 2012, with more than half going into its Canadian iron-ore operations. While the amount is 12% more than what the Cleveland-based company spent last...

Cliffs says Q2 income jumped 56%

US-based miner Cliffs Natural Resources on Wednesday said attributable net income rose 56% period-on-period to $408-million in the second quarter, as revenue climbed 50% to $1.8-billion. The company benefited from surging iron-ore prices, as well...

Cliffs plans phase-three expansion at Bloom Lake

Cliffs Natural Resources will start feasibility studies on another expansion at its Bloom Lake iron-ore operations in eastern Canada, to 24-million tons a year, CEO Joseph Carrabba said on Tuesday. Cliffs acquired the asset this year when it...

Cliffs to sell $872m in shares to pay down debt

Cliffs Natural Resources, the biggest iron-ore miner in the US, plans to raise up to $872-million in a share offering, it said on Monday. The company will use the money to repay borrowings under its existing $750- million bridge credit facility,...

Ex-Consolidated Thompson boss fined for insider trading

Former Consolidated Thompson CEO Richard Quesnel has been fined C$132 974 for insider trading in 2006, a Quebec regulator said on Thursday. The Autorité des marchés financiers (AMF) said it handed down the decision last week, and that Quesnel...

Labrador Iron signs another rail agreement

Canadian junior Labrador Iron Mines (LIM) has inked a pact with NYSE-listed Genesee & Wyoming’s local unit to run the rail line linking its Silver Yards iron-ore processing plant near Schefferville to the main tracks leading to the Sept-Iles...

Labrador Iron inks rail contract with IOCC unit

Labrador Iron Mines (LIM) has signed a rail transportation contract with a subsidiary of Iron Ore Company of Canada (IOCC) to transport iron-ore from the firm's projects near Schefferville, Quebec. The agreement with Quebec North Shore and...

Consolidated Thompson shareholders OK Cliffs takeover

Shareholders in TSX-listed iron-ore producer Consolidated Thompson Iron Mines on Friday approved the acquisition of the company by US miner Cliffs Natural Resources. About 76% of Consolidated Thompson's shareholders were represented at a special...

Cliffs profit jumps, raises iron-ore outlook

NYSE-listed Cliffs Natural Resources increased fourth-quarter net income by 255% year-on-year, to $384-million, and said on Wednesday it has increased its forecast for iron-ore sales in 2011. The Cleveland-based coal and iron-ore producer...

Baffinland shares rise in wake of Cliffs deal

Shares in takeover target Baffinland Iron Mines rose more than six percent on Wednesday, suggesting that investors expect a better offer to emerge for the company and its flagship iron-ore project. Baffinland stock rose as high as C$1,58 a share...

Cliffs to buy Consolidated Thompson Iron for C$4,9bn

Cleveland-based Cliffs Natural Resources has agreed to buy Canadian iron-ore producer Consolidated Thompson Iron Mines for C$4,9-billion, including net debt, or C$17,25 a share. Consolidated Thompson's flagship mine is its Bloom Lake operation in...