Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Canada's Bank of Nova Scotia sued Cliffs Natural Resources, saying the US iron-ore miner had breached terms of a loan agreement when it filed for creditor protection for its Canadian operations. Cliffs in January stopped production at its Bloom Lake mine, in Quebec, where costs exceeded expectations, and started restructuring the Canadian operations after years of weak iron-ore prices.
Canada's Bank of Nova Scotia sued Cliffs Natural Resources, saying the US iron-ore miner had breached terms of a loan agreement when it filed for creditor protection for its Canadian operations. Cliffs in January stopped production at its Bloom Lake mine, in Quebec, where costs exceeded expectations, and started restructuring the Canadian operations after years of weak iron-ore prices.
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