Cliffs Reaches Labor Agreement

Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) officials say the Company has concluded its local issue bargaining with the United Mine Workers (UMW), on the new five-and-a-half year labor contract that will cover approximately 800 UMW workers at Cliffs’ Pinnacle and Oak Grove mines in West Virginia and Alabama , respectively.

The company says the agreement is essentially identical to an agreement reached by the Bituminous Coal Operators’ Association (BCOA) and the UMW earlier this year.

David Webb , Cliffs’ senior vice president, Global Coal, said, “We are pleased to reach a new labor contract that is fair and equitable to both parties. Our most valuable resources are our employees, and we look forward to continuing our partnership with the UMW, which provides a solid platform for future achievement in our North American Coal business.”

Cliffs indicated the final agreement was reached on Aug. 31, 2011 with a term effective July 1, 2011 through Dec. 1, 2016 .

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