Cleveland Cliffs
Cleveland Cliffs changed its name to Cliffs Natural Resources in 2008.
Latest News
Cleveland-Cliffs Comments on Pellet Price Settlement
08 April 2005 - Cleveland-Cliffs Inc. commented on the recent settlement of iron ore price by Eastern Canadian producers.
Cleveland-Cliffs Increases Interest in Portman to 73%
06 April 2005 - Cleveland-Cliffs Inc.’s Cleveland-Cliffs Australia Pty Limited subsidiary has extended its offer for all of the shares in Portman Limited by two weeks. The deadline is now Tuesday, April 19, 2005 at 7:00 p.m. (Perth time).
Cleveland-Cliffs Announces Convertibility of Preferred Stock
01 April 2005 - Cleveland-Cliffs Inc. announced that its preferred stock may be surrendered for conversion at any time during the fiscal quarter ending June 30, 2005.
Cleveland-Cliffs Announces New $350 Million Credit Facility
30 March 2005 - Cleveland-Cliffs Inc has entered into a $350 million unsecured credit agreement with a syndicate of 13 financial institutions, jointly led by Fifth Third Bank and Bank of America Corp.
Northshore Mine Receives Cliffs Mine Safety Award
24 March 2005 - Cleveland-Cliffs Inc. announced that its Northshore Mining Co., Silver Bay, Minn., is once again the recipient of Cliffs' President's Award for Safety. The award is presented annually to the Cliffs mine with the best safety performance, as measured by the frequency rate for Mine Safety and Health Administration (MSHA) reportable injuries.
Cleveland-Cliffs Increases Portman Interest to Over 60%
23 March 2005 - Cleveland-Cliffs Inc has received acceptances increasing its voting power in Portman Limited to over 60%.
Cleveland-Cliffs Increases Interest in Portman
22 March 2005 - Cleveland-Cliffs Inc has acquired a total relevant interest in approximately 48.4 million Portman shares, representing approximately 27.6% of Portman's issued share capital as of Monday morning. The offer for Portman was due to close at 7:00 p.m. (Perth time), which is 6:00 a.m. (New York time) on March 22, 2005.
Cleveland-Cliffs Extends Portman Offer
10 March 2005 - Cleveland-Cliffs Inc. has extended its offer for all of the shares in Portman Limited for four days.
Cliffs Tender Offer for Portman Limited is Final
02 March 2005 - Cleveland-Cliffs has declared that its increased offer under the takeover bid for Portman Limited is final and the offer price will not be further increased. The increase, announced on February 25, 2005, had raised the offer price from A$3.40 to A$3.85 cash for each Portman share. Under Australian law this declaration means that Cleveland-Cliffs will not be able to further increase its offer price under any circumstances.
Cliffs Could Soon Declare Portman Takeover Offer Unconditional
18 February 2005 - Cleveland-Cliffs Inc. announced that its offer to acquire all of the shares in Portman Limited, made through its wholly owned subsidiary Cleveland-Cliffs Australia Pty Limited, will be declared free of all conditions if its relevant interest in Portman shares exceeds 51% (by number) by 5:00 p.m. (Sydney time) on Tuesday, March 1, 2005. The company also stated that it was extending the offer period under the offer to 7:00 p.m. (Perth time) on Friday, March 11, 2005 (unless further extended or withdrawn).
Cleveland-Cliffs Reports Record Results for 2004
17 February 2005 - Cleveland-Cliffs Inc. reported record fourth-quarter net income of $203.3 million and record net income of $323.6 million for the year 2004. All common shares and per-share amounts have been adjusted retroactively to reflect the December 2004 two-for-one stock split, and all diluted per-share amounts reflect the potential dilutive effect of the Company's convertible preferred stock.
Mesabi Trust Declares Distribution
21 January 2005 - Trustees of Mesabi Trust declared a distribution of $0.295 per Unit of Beneficial Interest payable on February 20, 2005 to Mesabi Trust unitholders of record at the close of business on January 30, 2005.
Cliffs Commences Tender Offer for Portman Limited
12 January 2005 - Cleveland-Cliffs Inc. announced commencement of a negotiated A$3.40 per share all-cash tender offer for all outstanding shares issued by Portman Limited. If the tender offer is fully subscribed, the net acquisition price would total approximately US$465 million (at an exchange rate of A$1 = US$0.77) and would be financed with existing cash and new borrowings of $100 million.
Cleveland-Cliffs Announces Convertibility of Preferred Stock
03 January 2005 - Holders of Cleveland-Cliffs Inc.’s 3.25% redeemable cumulative convertible perpetual preferred stock may surrender stock for conversion at any time during the fiscal quarter ending March 31, 2005, thanks to satisfaction of a condition to the conversion right. The condition was satisfied because the closing share price of Cleveland-Cliffs' common shares exceeded 110% of the then-applicable conversion price of the preferred stock for at least 20 of the last 30 trading days of the fiscal quarter ended December 31, 2004.
Cleveland-Cliffs Amends ISG Pellet Contract
31 December 2004 - Cleveland-Cliffs Inc. has entered into an amendment to its major Pellet Sale and Purchase Agreement with International Steel Group Inc., for pellet deliveries to ISG Cleveland and ISG Indiana Harbor through 2016.
Cliffs Announces New Officers
16 November 2004 - Cleveland-Cliffs Inc. announced the election of George W. Hawk as General Counsel and Secretary, and Dana W. Byrne as Vice President—Public Affairs.
Cleveland-Cliffs Announces Two-for-One Stock Split
10 November 2004 - Cleveland-Cliffs Inc.’s Board of Directors has approved a two-for-one stock split as well as the reinstatement of a quarterly cash dividend payment to holders of its common shares. A scheduled dividend payment on the company's 3.25% Redeemable Cumulative Convertible Perpetual Preferred Stock was also authorized.
Cleveland-Cliffs Reports Record Net Income for 3rd Quarter
28 October 2004 - Cleveland-Cliffs Inc reported third-quarter 2004 net income of $87.5 million on total revenues and other income of $409.7 million.
Cliffs Announces Management Changes
12 October 2004 - Cleveland-Cliffs Inc. announced that Edward C. Dowling Jr., Executive Vice President—Operations, has elected to resign to accept a senior executive position with a major global mining company. Mr. Dowling joined Cleveland-Cliffs in April 1998 as Senior Vice President—Operations and made numerous contributions during his tenure with the company.
Cliffs Announces Labor Agreement at Wabush Mines
12 October 2004 - Cleveland-Cliffs Inc. announced that contract settlements have been reached and ratified by the United Steelworkers Union, representing approximately 575 hourly employees at Wabush Mines in Canada.
