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Cliffs Natural Resources Inc. Message Board

  • csco_brat csco_brat Sep 8, 2012 10:32 PM Flag

    CLF is now losing money Cost of production over $100/ton in Canada

    I looked at the latest 10q. Said their cost of production had risen to like $108/ton or something for their Canadian operations. So they are losing money there. The coal business was already in the red last quarter. Might be some profit in Australia America units, but not enough to cover operating expenses, debt service, and losses from Canada.

    Clf paid 5,8 billion for thomson that is now money losing at this price.

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    • It's actually a little bit lower than $100.00 a tonne at Wabush and Bloom Lake. BUT, when you add in freight to China it's a hair over $100.00! The point is Cliffs can't ship to China with iron ore prices so low and that's the reason they bought Bloom Lake in the first place!

      Cliffs over paid for Bloom Lake to Consolidated Thompson by almost 2 BILLION DOLLARS NOW! This is REALLY going to hurt Cliffs more than people realize.

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