Cliffs Common Shares Approved for NYSE Euronext Paris
04/01/2009 - The French Autorité des marchés financiers approves Cliffs Natural Resources’ prospectus for admission of its common shares to listing and trading on the Professional Segment of NYSE Euronext Paris.
The French Autorité des marchés financiers (AMF) has approved Cliffs Natural Resources’ prospectus for admission of its common shares to listing and trading on the Professional Segment of NYSE Euronext Paris. AMF has granted visa number 09-071, dated March 31, 2009, on the prospectus.
The prospectus was prepared by Cliffs Natural Resources and its signatory has accepted responsibility for its contents. Euronext approved Cliffs’ application for listing and trading of its common shares on Euronext on March 30, 2009.
Cliffs’ shares are scheduled to begin trading on Euronext on April 6, 2009. The company’s common shares, which will trade under the symbol “CLF,” will be denominated in Euros on the Paris venue.
The company noted that this listing would not alter its share count, capital structure, or current stock-listings on the New York Stock Exchange and the Chicago Stock Exchange, where Cliffs also trades under the symbol “CLF”.
Cliffs Natural Resources Inc., an international mining and natural resources company, is the largest producer of iron ore pellets in North America, a major supplier of direct-shipping lump and fines iron ore out of Australia and a significant producer of metallurgical coal. Cliffs has a $1.88 billion (€ 1.42 billion) market capitalization as of March 30, 2009, and at the end of 2008, had $3.6 billion in revenues and $940 million in operating income.
Cliffs Natural Resources is organized through three geographic business units, including the North American business unit, which comprises six iron ore mines owned or managed and two coking coal mining complexes. The Asia Pacific business unit comprises two iron ore mining complexes in Western Australia and a 45% economic interest in a coking and thermal coal mine in Queensland, Australia. The Latin American business unit includes a 30% interest in the Amapá Project, an iron ore project in the state of Amapá in Brazil, as well as a number of smaller greenfield projects not yet in production.
Cliffs has been actively executing a strategy designed to achieve scale in the mining industry and focused on serving the world’s largest and fastest-growing steel markets.
