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
03/30/201516:15:00Cliffs Natural Resources Inc. Announces Successful Completion...
03/28/201510:30:06Cliffs Natural Resources Debt Exchange
03/27/201507:00:00Cliffs Natural Resources Inc. Declares Quarterly Cash Dividend...
03/26/201511:08:33Canada's "Next Oil Sands Miracle" a Bust
03/26/201507:00:00Cliffs Natural Resources Inc. Announces Extension of Exchange...
03/26/201504:24:56It Had To Happen - An Outright Call For Iron Ore Collusion
03/25/201509:13:00Cliffs Natural Resources Inc. Announces Pricing of $540,000,000...
03/24/201507:16:42Cliffs Natural Resources Golden Shield And Gonclaves Will Prevail
03/24/201506:58:21Cliffs Natural Resources: My Thoughts On Recent Developments
03/24/201502:57:13Shake Shack Shares Persist On The Hard To Borrow List
03/23/201516:17:37Cliffs Natural Resources Inc (CLF) Stock Up 11% on Asset Sale
03/23/201510:28:25Cliffs Natural exits Ontarioâs Ring of Fire with $20M sale o...
03/23/201507:00:00Cliffs Natural Resources Inc. Agrees to Sell its Chromite Assets...
03/19/201514:28:24Scotiabank Files Lawsuit Against Cliffs Over Canadian Mine Loans
03/19/201507:00:00Cliffs Natural Resources Inc. Announces Proposed Offering of...
03/15/201503:03:0310 Rife Russell 1000 Dividend Dogs Do 9.42% To 32.35% March Upsides
03/13/201505:15:41Found: A Large Seller In Cliffs
03/13/201503:44:15Cliffs Natural Resources CEO Yearns For Iron Ore Collusion, Uh...
03/11/201523:46:00Cliffs Natural Resources Inc. Announces Results to Date of Exchange...
03/11/201502:10:43Cliffs CEO Urges Iron-Ore Miners to Rethink Supply Surge

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