Cliffs Natural Resources Inc. Issues Statement
July 29 2014 - 1:46PM
Business Wire
Cliffs Natural Resources Inc. (NYSE:CLF) today made the
following statement following the Company’s Annual General
Meeting:
“We look forward to receiving the final
results of today’s vote, and the Board and management team remain
deeply committed to continuing to create long-term value for all of
our shareholders. We appreciate the support of the Cliffs
shareholders who supported the Company’s slate and the hard work
every day by Cliffs’ more than 6,000 employees.”
The Company will await the preliminary report of the Inspector
of Election, IVS Associates, Inc., before releasing any further
statements about the vote. The Inspector has indicated that it
expects to issue a preliminary tabulation of the vote results
within approximately three business days, which Cliffs will
publicly announce. Final results of the election will also be
announced once they are certified by the Inspector of Election
following the customary review and challenge period.
About Cliffs Natural Resources Inc.
Cliffs Natural Resources Inc. is an international mining and
natural resources company. The Company is a major global iron ore
producer and a significant producer of high-and low-volatile
metallurgical coal. Cliffs' strategy is to continually achieve
greater scale and diversification in the mining industry through a
focus on serving the world's largest and fastest growing steel
markets. Driven by the core values of social, environmental and
capital stewardship, Cliffs associates across the globe endeavor to
provide all stakeholders operating and financial transparency.
The Company is organized through a global commercial group
responsible for sales and delivery of Cliffs' products and a global
operations group responsible for the production of the minerals the
Company markets. Cliffs operates iron ore and coal mines in North
America and an iron ore mining complex in Western Australia.
News releases and other information on the Company are available
on the Internet at: http://www.cliffsnaturalresources.com
Follow Cliffs on Twitter at: http://twitter.com/CliffsNR.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the federal securities laws. Although the Company
believes that its forward-looking statements are based on
reasonable assumptions, such statements are subject to risks and
uncertainties relating to Cliffs' operations and business
environment that are difficult to predict and may be beyond Cliffs'
control. Such uncertainties and factors may cause actual results to
differ materially from those expressed or implied by
forward-looking statements for a variety of reasons including
without limitation: trends affecting our financial condition,
results of operations or future prospects, particularly the
continued volatility of iron ore and coal prices; our actual levels
of capital spending; uncertainty or weaknesses in global economic
conditions, including downward pressure on prices, reduced market
demand , increases in supply and any slowing of the economic growth
rate in China; a currently pending proxy contest and any other
actions of activist shareholders; our ability to successfully
identify and consummate any strategic investments and complete
planned divestitures; our ability to successfully integrate
acquired companies into our operations and achieve post-acquisition
synergies, including without limitation, Cliffs Quebec Iron Mining
Limited (formerly Consolidated Thompson Iron Mining Limited); our
ability to cost-effectively achieve planned production rates or
levels; changes in sales volume or mix; the outcome of any
contractual disputes with our customers, joint venture partners or
significant energy, material or service providers or any other
litigation or arbitration; the impact of price-adjustment factors
on our sales contracts; the ability of our customers and joint
venture partners to meet their obligations to us on a timely basis
or at all; our ability to reach agreement with our iron ore
customers regarding any modifications to sales contract provisions;
our actual economic iron ore and coal reserves or reductions in
current mineral estimates, including whether any mineralized
material qualifies as a reserve; the impact of our customers using
other methods to produce steel or reducing their steel production;
events or circumstances that could impair or adversely impact the
viability of a mine and the carrying value of associated assets, as
well as any resulting impairment charges; the results of
prefeasibility and feasibility studies in relation to development
projects; impacts of existing and increasing governmental
regulation and related costs and liabilities, including failure to
receive or maintain required operating and environmental permits,
approvals, modifications or other authorization of, or from, any
governmental or regulatory entity and costs related to implementing
improvements to ensure compliance with regulatory changes;
uncertainties associated with natural disasters, weather
conditions, unanticipated geological conditions, supply or price of
energy, equipment failures and other unexpected events; adverse
changes in currency values, currency exchange rates, interest rates
and tax laws; availability of capital and our ability to maintain
adequate liquidity and successfully implement our financing plans;
our ability to maintain appropriate relations with unions and
employees and enter into or renew collective bargaining agreements
on satisfactory terms; risks related to international operations;
the potential existence of significant deficiencies or material
weakness in our internal control over financial reporting; problems
or uncertainties with leasehold interests, productivity, tons
mined, transportation, mine-closure obligations, environmental
liabilities, employee-benefit costs and other risks of the mining
industry; and other factors and risks that are set forth in the
Company's most recently filed reports with the U.S. Securities and
Exchange Commission (the "SEC"). The information contained herein
speaks as of the date of this release and may be superseded by
subsequent events. Except as may be required by applicable
securities laws, we do not undertake any obligation to revise or
update any forward-looking statements contained in this
release.
InvestorsJessica MoranDirector, Investor
Relations216-694-6532orMediaPatricia PersicoDirector, Global
Communications216-694-5316orJoele Frank, Wilkinson Brimmer
KatcherMeaghan Repko or Andrea Rose212-355-4449
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