12
Jun
18:51
Cleveland-Cliffs exits Australia iron ore market
US iron ore supplier Cleveland-Cliffs plans to divest its holdings in Australia to Mineral Resources Limited, Kallanish learns from a company release. Cliffs says that the transaction will reduce its costs of closing its Australian business by $65-75 million.
The transaction is slated to close before the end of the second quarter. The floating price is due to as-yet unnegotiated settlements with third parties and the assumption of certain financial obligations.
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Anonymous
Very good overview of the weekly steel market.
Anonymous