03
Dec
00:00
Cliffs Natural Resources sells off West Virginia coal mines
US iron ore and metallurgical coal miner Cliffs Natural Resources tells Kallanish that it is to sell its Logan County Coal assets in southern West Virginia to Coronado Coal II.
The deal is worth $175 million in cash and the assumption of certain liabilities, Cliffs confirms. It anticipates using the cash proceeds from the sale for debt repayment.
At a time when all iron ore miners are feeling the stress of an oversupplied market and a $70/tonne price …
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Anonymous
Very good overview of the weekly steel market.
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