A month after activist hedge fund Casablanca Capital succeeded in gaining control of the board at Cliffs Natural Resources (NYSE: CLF), the troubled iron ore and metallurgical coal miner says it plans to buy back US$200 million worth of its own…
It was a good week for U.S. equities. The Dow Jones Industrial Average advanced 109 points to 16,662.91, while the broader S&P 500 Index jumped 23 points to 1,955.06. The tech-heavy Nasdaq Composite Index added 94 points to 4,464.93.
VANCOUVER — It’s been a nightmare two years for Mongolia-focused producer SouthGobi Resources (TSX: SGQ; US-OTC: SGQRF), as it weathers socio-political challenges and low coking and thermal coal prices.
With a spinoff of its aluminum, manganese, nickel, silver and some of its non-core coal assets, BHP Billiton (LSE: BLT; ASX: BHP; NYSE: BHP) is driving to simplify its portfolio.
VANCOUVER — Teck Resources’ (TSX: TCK.B; NYSE: TCK) second quarter profit fell to $72 million, down more than 70% compared to the same quarter last year because of low metallurgical coal prices.
It’s the biggest shareholder revolt of the current downturn in mining, but as we go to press it looks like Casablanca Capital has succeeded fulsomely in its long-shot bid to swamp the 11-member board of Cliffs Natural Resources with six…
Whether or not a dissident shareholder succeeds in replacing Cliffs’ (NYSE: CLF) CEO at its annual general meeting next week, big changes are likely in store for the iron ore and metallurgical coal miner.
Severstal Resources, one of Russia’s largest producers of iron ore and coking coal and a division of Severstal (LSE: SVST), plunked down US$877 million in 2008 to buy PBS Coals, a privately held company in southwestern Pennsylvania with…
Trading on the Toronto Stock Exchange was on the downbeat during the Canada Day shortened week, with the S&P/TSX Composite Index losing nearly 69 points to finish at 15,214.96. The spot price for gold retreated US$7.91 per oz. to…
Cliffs Natural Resources (NYSE: CLF) is warning that it may temporarily idle its Pinnacle coal mine in Pineville, W.Va., if market conditions do not improve.
VANCOUVER — In a move billed by proponents as ambitious step to address climate change and by opponents as a grand scheme destined to fail before it starts, the U.S. government has proposed a rule to cut carbon dioxide (CO2) emissions…
A harsh winter and low iron-ore and coal prices ensured that Cliffs Natural Resources (NYSE: CLF) would disappoint on its first-quarter earnings.
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