Cliffs completes W Virginia coal asset divesture, E Canada exit on track

US iron-ore producer Cliffs Natural Resources has completed the sale of its Logan County Coal assets, in West Virginia, to a subsidiary of Coronado Coal for $174-million in cash, including assuming certain liabilities. Cliffs on Friday said it expected a tax benefit associated with the transaction of between 20% and 25% of the previously disclosed pretax loss of about $400-million, which represented an additional benefit of $80-million to $100-million in future cash tax savings.