CLEVELAND, Oct. 10, 2012 /PRNewswire/ -- Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) announced today a tentative agreement with the United Steelworkers (USW), on a new three-year labor contract offer that will cover approximately 2,400 USW-represented workers at Cliffs' Empire and Tilden mines in Michigan, and its United Taconite and Hibbing Taconite mines in Minnesota.
David Blake, Senior Vice President, North America Iron Ore Operations, commented, "We are pleased to reach a new tentative labor contract that is fair and equitable to both parties, and provides Cliffs a competitive cost structure for future success. Cliffs' most valuable resource is our employees, and we look forward to continuing our strong partnership."
The agreement is pending ratification by USW local union memberships. No additional details will be released at this time.About Cliffs Natural Resources Inc. Cliffs Natural Resources Inc. is an international mining and natural resources company. A member of the S&P 500 Index, the Company is a major global iron ore producer and a significant producer of high- and low-volatile metallurgical coal. Cliffs' strategy is to continually achieve greater scale and diversification in the mining industry through a focus on serving the world's largest and fastest growing steel markets. Driven by the core values of social, environmental and capital stewardship, Cliffs associates across the globe endeavor to provide all stakeholders operating and financial transparency. The Company is organized through a global commercial group responsible for sales and delivery of Cliffs products and a global operations group responsible for the production of the minerals the Company markets. Cliffs operates iron ore and coal mines in North America and two iron ore mining complexes in Western Australia. In addition, Cliffs has a major chromite project, in the feasibility stage of development, located in Ontario, Canada. News releases and other information on the Company are available on the Internet at: http://www.cliffsnaturalresources.com
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