Cliffs +3% as it extends supply deal, maintains 2014 sales guidance


Cliffs Natural Resources (CLF +2.9%) extends its commercial agreement with ArcelorMittal (MT) to supply iron ore pellets for an additional two years through the end of Jan. 2017, with a mutual option to extend for a third year.

CLF and MT also extend their joint partnership for the Empire Mine located on the Marquette Iron Range in Michigan.

CLF also says it is maintaining its FY 2014 sales and production volume expectation of 22M-23M tons from its U.S. iron ore business; iron ore cash cost per ton expectation is $65-$70.

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Comments (3)
  • chunghk
    , contributor
    Comments (345) | Send Message
     
    CLF - Suffering from erectile dysfunction, under Chinese acupuncture, temporarily up a bit today and the next few, down again. Range bound $21 - $24, for $38-$45 hopefuls - this decade, before 2023. Thanks.
    27 Feb 2014, 10:55 AM Reply Like
  • mjrcme
    , contributor
    Comments (102) | Send Message
     
    I like CLF. Activist involved also. I see lots of upside catalysts. Be long.
    27 Feb 2014, 01:45 PM Reply Like
  • surfer stock dude
    , contributor
    Comments (6) | Send Message
     
    drunk on cliffs natural
    27 Feb 2014, 06:41 PM Reply Like
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