Cliffs' United Taconite To Raise Coal Production

CLEVELAND (AP) — Mining company Cliffs Natural Resources Inc. on Wednesday said its subsidiary United Taconite will boost iron ore pellet production for the rest of the year, allowing more than 400 hourly workers to progress toward a 40-hour work week.

United Taconite has been operating under a 32-hour work week since November of 2008 when one of its two operating furnaces was idled due to the weak demand for iron ore in the steel making process.

The company said the ramp-up in production will be phased in through September and October.

Shares of Cliffs fell 21 cents to $24.10 in afternoon trading.