Bloom Lake may close as Cliffs to pursue exit options for Eastern Canadian operations

The Bloom Lake mine, in Fermont, Québec, may close as NYSE-listed mining and natural resources company Cliffs Natural Resources pursues exit options for its Eastern Canadian iron-ore operations.  Cliffs chairperson, president and CEO Lourenco Goncalves said on Wednesday that despite the continued interest of the prospective equity partners in Bloom Lake and in its high-quality ore, the potential investment was not achievable within a timeframe acceptable to Cliffs. “With expansion no longer viable, we have shifted our focus to executing an exit option for the Eastern Canadian operations that [decreases] the cash outflows and associated liabilities."