ADVFN - Advanced Financial Network.
HOME» NYSE » C » CLF Stock Price » CLF Stock News

Cleveland Cliffs Share News

 Cliffs Natural Resources, Inc. Stock Price
CLF Stock Price
 Cliffs Natural Resources, Inc. Stock Chart
CLF Stock Chart
 Cliffs Natural Resources, Inc. Stock News
CLF Stock News
 Cliffs Natural Resources, Inc. Company Information
CLF Company Information
 Cliffs Natural Resources, Inc. Stock Trades
CLF Stock Trades

QR National Studying Pilbara Iron Ore Railway Plans -Sources

By David Fickling and David Winning Of DOW JONES NEWSWIRES SYDNEY -(Dow Jones)- Australia's largest coal hauler QR National Ltd. (QRN.AU) is looking at grabbing a share of the $150 billion global iron ore market with plans to develop a rail operation in the country's Pilbara region, according to three people with direct knowledge of the situation. QR National, which carried 182 million metric tons of coal from mines along Australia's east coast in the year to the end of June, has an internal team studying the Pilbara rail project and has hired former BHP Billiton Ltd. (BHP) uranium head and Lihir Gold Ltd. Chief Executive Graeme Hunt to consult on its options. The project would open up prospects for smaller miners at a time of rising iron ore demand. Australia's ore exports are expected to near-double by 2015, and the Pilbara already accounts for 40% of the 1 billion tons a year of iron ore traded globally by sea. It would also assist QR's move into an area enjoying higher profit margins than its coal business. "Looking in the growth areas that leverage QR's capabilities, there's only a couple of big spaces where they could do this," said one person familiar with QR's strategy. The three largest miners in the Pilbara--Rio Tinto PLC (RIO), BHP, and Fortescue Metals Group Ltd. (FMG.AU)--each operate their own rail lines to transport ore from inland mines to three ports along Australia's northwest coast. The vast cost of building such infrastructure has largely kept smaller competitors out of the market, and major miners have been reluctant to open up their lines to potential rivals. Several miners have mooted building their own tracks. Hancock Prospecting Ltd., controlled by mining tycoon Gina Rinehart, was in July granted a license for a track that would carry 55 million tons annually. Atlas Iron Ltd. (AGO.AU), which carries six million tons annually in trucks, wants to raise its output to 46 million tons through a rail project, while Hong Kong-based Wah Nam International Holdings Ltd. (0159.HK) has also suggested building its own track. An industry executive familiar with the discussions said a more likely model would include several of these smaller miners, plus equity stakes from non-mining investors such as Asian consumers or infrastructure specialists. "You need 80 million tons-90 million tons a year travelling on the railway to justify its construction," the executive said. QR has previously mooted taking an equity stake in Oakajee Port and Rail, a troubled iron ore export project in the Mid West region south of the Pilbara. The company carries 8.5 million tons a year of ore from Cliffs Natural Resources Inc.'s (CLF) Koolyanobbing mine east of Perth, making it the largest third-party iron ore hauler in Western Australia state. -By David Fickling, Dow Jones Newswires; +61 2 8272 4689; david.fickling@dowjones.com

Stock News for Cleveland Cliffs (CLF)
DateTimeHeadline
03/20/201416:54:26MARKET SNAPSHOT: U.S. Stocks Rise; Data Outweigh Rate Fears
03/20/201413:52:39MARKET SNAPSHOT: U.S. Stocks Rebound On Upbeat Philly Fed Data
03/10/201416:35:51MARKET SNAPSHOT: U.S. Stocks Fall Amid China Worries
03/10/201414:22:28MARKET SNAPSHOT: U.S. Stocks Held Back By China; Chiquita, FMC...
02/14/201416:41:10MARKET SNAPSHOT: U.S. Stocks Extend Weekly Gains
02/14/201415:12:32MARKET SNAPSHOT: U.S. Stocks Head For Best Weekly Gains This...
02/14/201411:44:09MARKET SNAPSHOT: U.S. Stocks Set For Second Week Of Gains
02/14/201409:27:14U.S. Hot Stocks: Hot Stocks to Watch
11/15/201309:18:02OZ Management LP 3Q 13F: Holdings As Of Sep 30
11/15/201309:18:02OZ Management LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201309:17:55OZ Management LP 3Q 13F: Largest Sales
10/25/201309:13:31Cliffs Natural's New Operating Chief in Line To Take Over as...
09/25/201304:20:44Anglo American Revises Amapa Iron Ore Sale After Accident
09/25/201302:52:28Anglo American to Sell Brazilian Iron Ore Operation for $136...
09/12/201316:46:25MARKET SNAPSHOT: U.S. Stocks Drop; S&P 500 Snaps Win Streak
08/19/201316:41:09MARKET SNAPSHOT: U.S. Stocks End Lower; Yields Hit 2-year Highs
08/19/201315:14:36MARKET SNAPSHOT: U.S. Stocks Mostly Lower; Yields Hit 2-year...
08/19/201312:15:08MARKET SNAPSHOT: U.S. Stocks Fluctuate As Yields Hit 2-year Highs
08/19/201310:41:34MARKET SNAPSHOT: U.S. Stocks Fluctuate As Traders Eye Yields
08/19/201310:13:10MARKET SNAPSHOT: U.S. Stocks Drop As Traders Eye Rising Yields

Cleveland Cliffs and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad