DAILY NEWS Nov 19, 2012 3:57 PM - 0 comments

IRON ORE: Cliffs slows Bloom Lake work

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QUEBEC – Cliffs Natural Resources of Cleveland, OH, has announced plans to delay part of the phase two expansion of the Bloom Lake iron ore mine, 400 km north of Sept-Iles. It will also idle a portion of its iron ore production at Northshore Mining in Minnesota and the Empire mine in Michigan. Cliffs says it must match 2013 production in North America to anticipated sales volumes.

At Bloom Lake, Cliffs has decided not to complete the concentrator and load out facility. Pre-stripping of the Bloom Lake deposit, supporting both phase one and two development, will continue. Also, Cliffs will continue its environmental projects related to completing Bloom Lake's water and tailings management system and ore storage facility. Depending on market conditions, Cliffs plans to complete the second phase of construction in early 2014.

In 2013, the company expects to produce approximately 6.35 million tonnes of iron ore from Bloom Lake's phase one facility.

News releases and other information about Cliffs are available at CliffsNaturalResources.com

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