Local News
(2008-08-01)
UNDATED
(wnmu) -
Revenue for Cleveland Cliffs continued to set records in the second quarter this year. To be renamed Cliffs Natural Resources after its planned merger with Alpha Natural Resources, the mining company says revenues increased 84 percent to a record of $1 billion. That's up from $548 million the same quarter last year. Officials credit the increase to a strong market for iron ore and metallurgical coal. For the first half of 2008, revenues increased sharply, from $873 million last year to $1.5 billion this year. Cliffs officials expect 33 million tons of iron ore sales in 2009.
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