Thomson Reuters






* Q4 iron ore sales volume up 26 pct to 7.8 mln tons in U.S.


* Q4 revenue $1.28 bln vs. est $1.21 bln


* Shares up 11 pct after market

(Adds details on iron ore sales, share movement)


Feb 2 (Reuters) - Miner Cliffs Natural Resources Inc
reported a 26 percent jump in quarterly iron-ore sales volumes
and lower production costs in the United States as it continued
to cut jobs and related expenses.


Cliffs Natural Resources shares rose as much as 11 percent
to $7.70 in after-market trading.


U.S. iron ore pellet sales volume increased to 7.8 million
tons for the fourth quarter ended Dec. 31, while cash production
costs for iron ore fell 5 percent to $59.06 per ton.


Iron ore miners are struggling to survive weak prices as low
demand for the steel-making ingredient in both domestic and
international markets continues to weigh on their results.


Cliffs Natural moved to stop production at its loss-making
Bloom Lake iron ore mine in Quebec in November, helping it cut
its fourth-quarter capital spending by more than half.


Last week, the company scrapped its quarterly dividend and
sought creditor protection for its Canadian arm, which will
shield it from the majority of the closure-related costs.


Cliffs is the third major U.S. company in the past six
months to seek creditor protection for their Canadian
operations. U.S. Steel opted to do the same in September,
while discount retailer Target Corp said last month it
was abandoning its Canadian expansion.


Cliffs took an impairment charge of $1.2 billion, partly
related to the exit from Canada, leading to a fourth-quarter
loss of $1.26 billion, compared with a profit of $30.5 million a
year earlier.


Revenue fell nearly 15 percent to $1.28 billion, but edged
past average analysts estimate of $1.21 billion, according to
Thomson Reuters I/B/E/S.


Up to Monday's close, the miner's shares have lost nearly
two-thirds of their value over the last 12 months.

(Reporting By Kanika Sikka and Manya Venkatesh in Bengaluru;
Editing by Joyjeet Das)