Cliffs Natural Resources (CLF) says it will idle its Wabush Pointe Noire plant in Quebec by the...

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

Cliffs Natural Resources (CLF) says it will idle its Wabush Pointe Noire plant in Quebec by the end of Q2 to reduce costs as iron ore prices remain weak. VLF says the idling will push down cash costs to $95-$100/ton in its eastern Canada iron ore business from its prior $100-$105 forecast, while it backs its full-year sales and production volume forecast of 9M-10M tons from the business.