Cliffs Natural Resources (CLF) says it could scrap its Bloom Lake expansion project in Canada's...

|About: Cliffs Natural Resources Inc. (CLF)|By:, SA News Editor

Cliffs Natural Resources (CLF) says it could scrap its Bloom Lake expansion project in Canada's iron-rich Labrador Trough region if iron ore prices fall back to $90/metric ton. The mine is seen by analysts as a key future growth driver, but "at $90, the project doesn't go, which is consensus right now," CEO Joseph Carrabba tells Reuters; at $110 or $120, roughly the current price, it's a go.