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 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 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,...

Cliffs lowers 2011 coal forecast

Cleveland-based Cliffs Natural Resources has cut its North American coal sales forecast, after severe weather damaged facilities at an Alabama mine and the company halted another operation because of high carbon-monoxide levels. The group now...

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...

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...

Consolidated Thompson's ships first ore concentrate to China

Montreal, Quebec-based Consolidated Thompson Iron Mines has shipped the first iron-ore concentrate from the port of Sept Iles, Quebec, the firm said on Tuesday. The ore, produced from the company's Bloom Lake mine, is headed for Chinese steel...

Consolidated Thompson gets railway permit, inks iron-ore sales contract

Montreal, Quebec-based Consolidated Thompson Iron Mines has completed construction of a 31-km railway from the load-out facilities at the company's Bloom Lake mine, to Wabush, in Labradow, and has been given a permit from the provincial government...

Consolidated Thompson considers doubling iron-ore output

Emerging Canadian iron-ore producer Consolidated Thompson Iron Mines expects to declare commercial production at its Bloom Lake mine, in Quebec, by April this year, and should have the results of a study on doubling production a month later, CEO...