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

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

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.