SHARE REPURCHASE
US coal and iron-ore producer Cliffs Natural Resources on Wednesday announced that it had successfully negotiated an amendment to its revolving credit facility with its banking group party to allow the company to proceed at its discretion with a $200-million share buyback programme. Among his first acts of business as Cliffs' newly elected president and CEO, Lourenco Goncalves said this move was necessary to “invest in our own business and return capital to our shareholders”.
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