Cliffs Natural Resources Inc. Announces Long-term Pellet Supply Contract with AK Steel

PR Newswire/Les Echos/ 
Cliffs Natural Resources Inc. Announces Long-term Pellet Supply Contract with
AK Steel 
CLEVELAND, Aug. 27, 2013 -- Cliffs Natural Resources Inc. (NYSE: CLF) (Paris:
CLF) announced today that it has entered into a new Agreement with AK Steel
(NYSE: AKS) to supply iron ore pellets from 2014 through 2023. The new 
Agreement includes minimum and maximum volume iron ore pellet purchases from 
Cliffs, as outlined in the Agreement. Cliffs will continue to supply AK Steel 
with iron ore pellets for the remainder of 2013 and 2014 under the previous 
Agreement between the two companies. 
(Logo: http://photos.prnewswire.com/prnh/20101104/CLIFFSLOGO) 
Also, the new Agreement provides a pricing mechanism for the volumes sold in 
the contracted years. The annual price will be determined by a formula-based 
pricing mechanism, where the annual price is adjusted by multiple factors 
including seaborne pricing for iron ore and certain producer price indices. 
Donald J. Gallagher, Cliffs' president - global commercial, said, "We are
pleased to announce this long-term supply agreement and the extension of the
previous contract with our valued customer, AK Steel. Our U.S. Iron Ore
operations will continue to be a reliable supplier of high-quality iron ore
pellets to AK Steel for many years to come." 
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 an iron ore mining 
complex in Western Australia. In addition, Cliffs has a major chromite project, 
in the feasibility stage of development, located in Ontario, Canada. 
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the
federal securities laws. Although the Company believes that its forward-looking
statements are based on reasonable assumptions, such statements are subject to
risks and uncertainties relating to Cliffs' operations and business environment
that are difficult to predict and may be beyond Cliffs' control. Such
uncertainties and factors may cause actual results to differ materially from
those expressed or implied by forward-looking statements for a variety of
reasons including without limitation: uncertainty or weaknesses in global
economic conditions, including downward pressure on prices, reduced market
demand and any slowing of the economic growth rate in China; trends affecting
our financial condition, results of operations or future prospects, 
particularly the continued volatility of iron ore and coal prices; our ability 
to successfully integrate acquired companies into our operations and achieve 
post-acquisition synergies, including without limitation, Cliffs Quebec Iron 
Mining Limited (formerly Consolidated Thom pson Iron Mining Limited); our 
ability to successfully identify and consummate any strategic investments and 
complete planned divestitures; the outcome of any contractual disputes with our
customers, joint venture partners or significant energy, material or service
providers or any other litigation or arbitration; the ability of our customers
and joint venture partners to meet their obligations to us on a timely basis or
at all; our ability to reach agreement with our iron ore customers regarding
modifications to sales contract pricing escalation provisions to reflect a
shorter-term or spot-based pricing mechanism; the impact of price-adjustment
factors on our sales contracts; changes in sales volume or mix; our actual
economic iron ore and coal reserves or reductions in current mineral estimates,
including whether any mineralized material qualifies as a reserve; the impact 
of our customers using other methods to produce steel or reducing their steel
production; events or circumstances that could impair or adversely impact the
viability of a mine and the carrying value of associated assets; the results of
prefeasibility and feasibility studies in relation to projects; impacts of
existing and increasing governmental regulation and related costs and
liabilities, including failure to receive or maintain required operating and
environmental permits, approvals, modifications or other authorization of, or
from, any governmental or regulatory entity and costs related to implementing
improvements to ensure compliance with regulatory changes; our ability to
cost-effectively achieve planned production rates or levels; uncertainties
associated with natural disasters, weather conditions, unanticipated geological
conditions, supply or price of energy, equipment failures and other unexpected
events; adverse changes in currency values, currency exchange rates, interest
rates and tax laws; availability of capital and our ability to maintain 
adequate liquidity and successfully implement our financing plans; our ability 
to maintain appropriate relations with unions and employees and enter into or 
renew collective bargaining agreements on satisfactory terms; risks related to
international operations; availability of capital equipment and component 
parts; the potential existence of significant deficiencies or material weakness 
in our internal control over financial reporting; problems or uncertainties 
with productivity, tons mined, transportation, mine-closure obligations,
environmental liabilities, employee-benefit costs and other risks of the mining
industry; and other factors and risks that are set forth in the Company's most
recently f iled reports with the Securities and Exchange Commission. The
information contained herein speaks as of the date of this release and may be
superseded by subsequent events. Except as may be required by applicable
securities laws, we do not undertake any obligation to revise or update any
forward-looking statements contained in this release. 
News releases and other information on the Company are available on the 
Internet at: 
http://www.cliffsnaturalresources.com  
Follow Cliffs on Twitter at: http://twitter.com/CliffsNR. 
 

SOURCE Cliffs Natural Resources Inc. 
CONTACT: INVESTOR RELATIONS AND GLOBAL COMMUNICATIONS: Jessica Moran, Director,
Investor Relations, (216) 694-6532, Patricia Persico, Director, Global
Communications, (216) 694-5316 office 
                  
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-0- Aug/28/2013 08:09 GMT
 
 
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