Boston, MA 07/05/2013 (wallstreetpr) – Cliffs Natural Resources, Inc. (NYSE:CLF) announced on Tuesday that its iron mine at Wabush Scully is restarted,as the company called back its workers on July 1. The iron mine has not glimpsed a day of a light since June 28th because of forest fires.
For this reason, the town of Wabush was evacuated immediately.Cliffs Natural Resources, Inc. (NYSE:CLF) has an employee base of nearly 500 workers and, during the disaster, the company extended a helping hand to bring in more safety and security in the town of Wabush; in addition, Cliffs’ employees protected and stabilized the mining operations for CFL. The company also provided assistance by partnering with Wabush authorities to provide volunteer assistance and helped the localities that were asked to evacuate the town on immediate notice with shelter and food availability.
Cliffs Natural Resources, Inc.’s(NYSE:CLF)main motive is to diversify itself in the competitive mining industry and continually achieve greater scale. The global commercial group is responsible for the sales and distribution of Cliffs’ products and the global operations group for the production of the minerals in the market. This Ohio-based firm specialises in the mining of coal. The company is an independent firm whose share is traded at the New York Stock Exchange (NSE). Current share price in the market is 16.60 +0.18 (1.10%). Cliff controls ten iron ore and six coal facilities, as well as a chrome project with the capacity to produce approximately 46 million tonnes of iron ore pellets.
To maintain a competitive level, the company diversified itself globally and entered into the field of mining of other minerals also. Cliffs purchased its first domestic coal property, namely PinnOak, in Alabama and West Virginia that previously belonged to the U.S. Steel.
On the basis of company’s performance in 2010, the company is ranked 477th amongst the 500 companies listed on Fortune 500.
