Miner Cliffs sells Australia iron ore operation to Mineral Resources

摘要

US miner Cleveland-Cliffs saidTuesday it has agreed to the sale of its Asia-Pacific Iron Ore business in Australia, which wasundergoing closure, to Australian developerMineral Resources Ltd.Cleveland-Cliffs, which is refocusing on USiron ore mining and sales only, said the costs ofclosing the Australian operations are expectedto be reduced by $65 million-$75 million. This isbased on Mineral Resources assuming certainobligations and Cliffs reaching negotiatedsettlements with other third parties.