Mining Frontier
  • Home
  • News
  • Press Releases
  • Market Reports
  • Sectors
    • Aluminium
    • COAL
    • COPPER
    • DIAMONDS
    • GOLD
    • IRON ORE AND MANGANESE
    • NICKEL
    • NIOBIUM
    • PHOSPHATES
    • PLATINUM
    • STEEL
  • Projects
  • Events & Conferences
  • Contact US
  • More
    • Newsletter Archive
No Result
View All Result
  • Home
  • News
  • Press Releases
  • Market Reports
  • Sectors
    • Aluminium
    • COAL
    • COPPER
    • DIAMONDS
    • GOLD
    • IRON ORE AND MANGANESE
    • NICKEL
    • NIOBIUM
    • PHOSPHATES
    • PLATINUM
    • STEEL
  • Projects
  • Events & Conferences
  • Contact US
  • More
    • Newsletter Archive
No Result
View All Result
Mining Frontier
No Result
View All Result
Home News

Cliffs Natural Resources may shutdown Bloom Lake iron ore mine in Canada

December 24, 2014
in News, North America

Note* - All images used are for editorial and illustrative purposes only and may not originate from the original news provider or associated company.

US-based mining firm Cliffs Natural Resources is considering closing its Bloom Lake iron ore mine in Canada after deciding that the expansion plan is not viable.

 

The closure is part of the company’s plan to exit its Eastern Canadian iron ore operations.

 

Cliffs had previously said it would not go ahead with the Bloom Lake project if an investment of $1.2bn was not arranged by the end of this year.

 

Stopping production at the mine is expected to cost $650m to $700m over the next five years.

 

Cliffs Natural Resources chairman, president and CEO Lourenco Goncalves said: “Despite the continued interest of the prospective equity partners in Bloom Lake and in its high-quality ore, the potential investment is not achievable within a timeframe acceptable to Cliffs.

 

“With expansion no longer viable, we have shifted our focus to executing an exit option for Eastern Canadian operations that minimises the cash outflows and associated liabilities.”

 

The Bloom Lake property is located in the southwestern corner of the Labrador Trough iron range, near several producing mines.

Cliffs Natural Resources has also lost an arbitration claim against a former buyer of iron ore from Bloom Lake. Damages of around $71m were awarded against the company.

 

The company produces iron in the Great Lakes region as well as high and low-volatile metallurgical coal in the US. It also operates an iron mining complex in Western Australia.

Previous Post

Osisko Gold acquires Virginia Mines to create $1.2bn gold royalty company

Next Post

Alpha Natural Resources to lay-off 412 coal workers

Related Posts

US Eyes Rubaya Mine in Congo
News

US Eyes Rubaya Mine in Congo for Coltan Reserves

June 30, 2025
HD Hyundai Construction
News

HD Hyundai Construction Equipment Expands Mining Presence

June 27, 2025
South Africa Revives Mining Endeavors
News

To Keep Pace Globally, South Africa Revives Mining Endeavors

May 19, 2025
Mining Projects in America
News

Mining Projects in America Getting the Executive Order Push

May 19, 2025
Coal Exploration Programme
News

Coal Exploration Programme Gets a Go Ahead in Canada

May 19, 2025
Mining StartUps Looking for Better Europe Avenues
News

Mining StartUps Looking for Better Europe Avenues

May 19, 2025
Next Post

Alpha Natural Resources to lay-off 412 coal workers

No Result
View All Result

Recent Posts

  • Automated Solutions in Mining Equipment Driving the Change
  • Absolute Visibility of Digital Transformation in Mining
  • 2025 Mining Equipment Trends – Carrying Legacy to Modernity
  • Ore Extraction Processes Getting AI-Powered Robot Support
  • A Deep Dive into Machinery Maintenance in Mining in Canada

System

  • Search
  • Sitemap
  • Feed

Resources

  • Contact US
  • Download Mediapack
  • Home
  • News
  • Press Releases
  • Market Reports
  • Sectors
  • Projects
  • Events & Conferences
  • Contact US
  • More

© 2019 Copyright Valuemediaservices All rights reserved.

No Result
View All Result
  • Home
  • News
  • Press Releases
  • Market Reports
  • Sectors
    • Aluminium
    • COAL
    • COPPER
    • DIAMONDS
    • GOLD
    • IRON ORE AND MANGANESE
    • NICKEL
    • NIOBIUM
    • PHOSPHATES
    • PLATINUM
    • STEEL
  • Projects
  • Events & Conferences
  • Contact US
  • More
    • Newsletter Archive

© 2019 Copyright Valuemediaservices All rights reserved.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In