CLIFFS NATURAL RESOURCES HEADLINESIndustry Suppliers /
Cliffs Natural Resources
Cliffs to Halt Production at West Virginia Coal Operations
Feb. 2, 2009 Cliffs Natural Resources Inc. announced the temporary halt of production at wholly owned subsidiary Pinnacle Mining Co.’s Pinnacle Mine Complex, beginning Monday, Feb. 2.
The Pinnacle Complex’s Pinnacle and Green Ridge No. 1 mines both will halt production during February, while the Pinnacle Preparation Plant will operate on a reduced schedule to serve customer requirements. The Complex’s other mine, Green Ridge No. 2, was previously idled. The shutdown, which is scheduled to run through Feb. 28, will affect approximately 360 employees
Cliffs indicated the 2009 production plan at the Pinnacle Complex called for the mines to produce approximately 85,000 tons in February. Mine management met Friday afternoon with local leadership of the United Mine Workers of America to notify them of the production curtailment.
“The month-long production curtailment at Pinnacle is necessary to balance our production and inventory with customer demand,” said Duke Vetor, Senior Vice President, Cliffs North American Coal.
Pinnacle produces metallurgical coal for the steel industry. Metallurgical coal demand has been reduced as the steel industry has cut back production in the face of the global economic slowdown.
Headquartered in Cleveland, Cliffs Natural Resources is an international mining company, the largest producer of iron ore pellets in North America and a major supplier of metallurgical coal to the global steelmaking industry. The company operates six iron ore mines in Michigan, Minnesota and Eastern Canada, and owns three coking coal mines in West Virginia and Alabama. Cliffs also wholly owns Portman Limited, a large iron ore mining company in Australia, serving the Asian iron ore markets with direct-shipping fines and lump ore. In addition, the company has a 30% interest in the Amapá Project, a Brazilian iron ore project, and a 45% economic interest in the Sonoma Project, an Australian coking and thermal coal project.