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Cleveland Cliffs
Cleveland Cliffs changed its name to Cliffs Natural Resources in 2008.
Latest News
ArcelorMittal Commences Legal Action to Resolve Wabush Mines Situation
14 March 2008 - ArcelorMittal commences legal action to require U.S. Steel Canada and Cleveland-Cliffs to respect their original commitment to the sale of their interests in the Wabush Mines joint venture to ArcelorMittal Dofasco.
Cleveland-Cliffs Announces Two-for-One Common Stock Split
12 March 2008 - Cleveland-Cliffs’ Board of Directors declares a two-for-one stock split of the company’s common shares.
Cleveland-Cliffs Terminates Negotiations for Sale of Wabush Mines
05 March 2008 - Cleveland-Cliffs terminates negotiations to sell its 26.8% interest in the Wabush Mines joint venture to ArcelorMittal Dofasco.
ArcelorMittal Dofasco Clarifies Position on Wabush Mines Sale
05 March 2008 - ArcelorMittal Dofasco expresses ‘strong exception’ to news releases issued by U.S. Steel Canada and Cleveland-Cliffs regarding their desire to withdraw from the sale of their respective interests in the Wabush Mines joint venture.
Cleveland-Cliffs Reports Year-End 2007 Results
26 February 2008 - Cleveland-Cliffs reports net income of $93.7 million on consolidated revenues of $782.5 million for the fourth quarter, and net income of $270.0 million on record revenues of $2.28 billion for the full year ended December 31, 2007.
Mesabi Trust Declares Distribution
14 January 2008 - Trustees of Mesabi Trust have declared a distribution of fifty-one and one-half cents per Unit of Beneficial Interest payable on February 20, 2008, a twenty cents per Unit increase compared to the year-ago quarter.
Steel Dynamics Completes Purchase of Minnesota Iron Mine
04 December 2007 - Steel Dynamics completes its purchase of a shuttered Hoyt Lakes, Minn., taconite mine from Cleveland Cliffs where it will invest $165 million so it can mine and concentrate iron ore for its Mesabi Nugget venture with Kobe Steel.
Cleveland-Cliffs Shuffles PinnOak Management
07 November 2007 - Cleveland-Cliffs announces the promotion of two executives—and departure of the PinnOak President— as part of the company’s ongoing integration of the recently acquired PinnOak Resources.
Cleveland-Cliffs Reports 3rd-Quarter Results
05 November 2007 - Cleveland-Cliffs reports net income of $56.9 million on consolidated revenues of $619.6 million for the third quarter, and net income of $176.3 million on consolidated revenues of $1492.7 million for the nine months ended Sept. 30, 2007.
Cleveland-Cliffs Completes Pinnacle Mine Longwall Move
25 October 2007 - Cleveland-Cliffs resumes normal production at Pinnacle Mine after completing the move of its longwall plow system because of sandstone intrusions in the coal panel.
Mesabi Trust Declares Distribution
16 October 2007 - Trustees of Mesabi Trust declare a distribution of forty-eight cents per Unit of Beneficial Interest, which compares to a distribution of fifty-eight and one-half cents per Unit for the same period last year.
Cleveland-Cliffs Expands Finance Group
16 October 2007 - Cleveland-Cliffs announces changes in its Finance Group, including the appointments of Terrance M. Paradie as Vice President, Corporate Controller, and Kathleen L. Bardwell as Vice President, Internal Audit.
Cleveland-Cliffs Names New VP Sales and Transportation
13 September 2007 - Cleveland-Cliffs announces the promotion of Terrence R. Mee to Vice President, Sales and Transportation effective Sept. 16, 2007.
ArcelorMittal Confirms Acquisition of Wabush Mines
06 September 2007 - ArcelorMittal announces that it will exercise its Dofasco subsidiary’s option to acquire the remaining shares of iron ore and pellet producer Wabush Mines from Stelco and Cleveland Cliffs.
Standard & Poor’s to Move Cliffs on the U.S. Indices
21 August 2007 - Standard & Poor's announced that Cleveland Cliffs Inc. will replace Ohio Casualty Corp. in the S&P MidCap 400, GICS Steel Sub-Industry index.
Cleveland-Cliffs Enters New Credit Agreement
20 August 2007 - Cleveland-Cliffs enters into a new unsecured, $800-million credit agreement that provides more-flexible terms and conditions, along with improved pricing.
Cleveland-Cliffs Selects Location for Iron Nugget Plant
17 August 2007 - Cleveland-Cliffs and joint-venture partner Kobe Steel will construct their 500,000 tons per year commercial-scale iron nugget production facility at Cliffs’ Empire Mine site in Palmer, Mich.
Cleveland-Cliffs Closes PinnOak Resources Acquisition
02 August 2007 - Cleveland-Cliffs has closed its previously announced acquisition of PinnOak Resources,a premium-quality metallurgical coal producer located in the United States.
Cleveland Cliffs Reports 2nd Quarter Results
30 July 2007 - Cleveland-Cliffs reports net income of $86.9 million on record revenues from iron ore product sales and services of $547.6 million for the second quarter, and net income of $119.4 million on record revenues of $873.1 million for the six months ended June 30, 2007.
Mesabi Trust Declares Distribution
16 July 2007 - Trustees of Mesabi Trust declare a distribution of thirty-one cents per Unit of Beneficial Interest, which compares to a distribution of forty cents ($0.40) per Unit for the same period last year.
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