Cliffs confident after overcoming overcomes issues at Pinnacle and Oak Grove

摘要

Following some difficult times with the coal mining portion of its business in recent years, Cliffs Natural Resources' management is confident the segment is headed in the right direction.Various problems at the Pinnacle low-vol metallurgical mine have often prevented the operation from reaching its full potential, with production shortfalls occurring from time to time as Cliffs struggled to correct the problems. Pinnacle experienced some down time last year from May due to detected levels of carbon monoxide at the mine, returning to production in October.There was also the devastating loss to a tornado of a prep plant at the Oak Grove mine that hampered the company's North American Coal segment last year. In April, significant damage was done to the mine's prep plant and overland conveyor system, and Cliffs then had to stockpile the raw coal until the repairs were completed.