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Cliffs Natural Resources (CLF) reduces FY12 thermal coal sales and production estimates from...
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Friday, June 15, 2012, 5:29 PM ETCliffs Natural Resources (CLF) reduces FY12 thermal coal sales and production estimates from 1.1M tons to ~800K tons at its Toney Fork mine in West Virginia. The company cites softer U.S. pricing for thermal coal products, saying "Thermal coal usage for power generation has declined sharply, driven by the extremely mild winter and historically low natural gas prices."
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