Cliffs Natural Resources To Restart Production At Northshore Mine In Minnesota

(RTTNews) - Cliffs Natural Resources Inc. (CLF) said that it will be restarting iron ore pellet production at its Northshore Mining operation in Minnesota by May 15, 2016.

The company noted that is taking such action based on its domestic customers' demand for iron ore pellets and consistent with its previously announced production plans for the year.

Cliffs' Northshore Mining iron ore operation is comprised of a mine and a taconite pellet processing facility located in Minnesota. The operation employs approximately 540 employees. Cliffs is also operating at normal rates at its Hibbing Taconite mine in Minnesota, as well as the Tilden and Empire mines in Michigan. Cliffs' United Taconite operations in Minnesota are currently idled.

In accordance with Cliffs' 2016 full-year anticipated USIO production volume of 16 million tons, the Company is maintaining its previous cash production cost per ton expectations for 2016 at $50 to $55 per ton and its cash cost of goods sold expectation is $55 to $60 per ton.