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Cliffs Natural Resources and USW Reach New Labor Agreement for Bloom Lake Mine

08/30/2013 - Cliffs Natural Resources Inc. announced that the United Steelworkers Union local membership have ratified a three-year labor contract agreement for its Bloom Lake Mine in Fermont, Quebec.

The new labor agreement covers approximately 300 represented workers.
Duke Vetor, executive vice president, global operations services, commented, "We are pleased to reach a new labor contract with mutually aligned performance objectives that is fair and equitable to both parties. This labor agreement provides Cliffs with a sustainable cost structure and a highly skilled workforce that will be key to our ability to stay competitive in a challenging global market. Cliffs values our longstanding relationship with the United Steelworkers and we are pleased to begin this new chapter in Quebec."
Cliffs Natural Resources Inc. is an international mining and natural resources company. A member of the S&P 500 Index, the company is a major global iron ore producer and a significant producer of high- and low-volatile metallurgical coal. Cliffs' strategy is to continually achieve greater scale and diversification in the mining industry through a focus on serving the world's largest and fastest growing steel markets. Driven by the core values of social, environmental and capital stewardship, Cliffs associates across the globe endeavor to provide all stakeholders operating and financial transparency.
The company is organized through a global commercial group responsible for sales and delivery of Cliffs' products and a global operations group responsible for the production of the minerals the company markets. Cliffs operates iron ore and coal mines in North America and an iron ore mining complex in Western Australia. In addition, Cliffs has a major chromite project, in the feasibility stage of development, located in Ontario, Canada.