Cliffs ready to sell off properties....

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Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%

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Cliffs ready to sell off properties....

posted on Sep 03, 2014 01:22PM

WSJ: Cliffs Natural Resources hires adviser to sell certain assets • 12:44 PM

Carl Surran, SA News Editor

Cliffs Natural Resources (CLF +0.5%) has hired three investment banks, WSJ reports, in the first concrete sign of the shake-up promised by new management installed this summer.
CLF is said to have hired Deutsche Bank to sell its coal assets in West Virginia and Alabama, Jefferies to sell its Australian iron ore mines, and Moelis as strategic adviser on the overall process.
Meanwhile, iron ore prices tumble to their lowest level in more than two years due to weak housing demand in China, the world's largest consumer of the steelmaking raw material.