Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Global miner Cliffs Natural Resources has in the past 12 months managed a return to profitability despite the price of iron-ore sinking to its lowest since at least 2009 earlier month, as the largest producers such as Rio Tinto Group and BHP Billiton boosted output into an oversupplied market. For the second quarter ended June, Cliffs, which was a significant supplier of iron-ore pellets to the US steel industry, recorded net income attributable to common shareholders of $60-million, or $0.39 per diluted share, compared with a net loss of $2-million, or $0.02 per diluted share recorded in the same period of 2014.
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