CLEVELAND — Cliffs Natural Resources released their 2016 first–quarter results today.
Among the highlights, the company reported a net income of $117 million. Cliffs reported a net loss of $762 million at the same time last year.
As a whole, the mining company is $2.5 billion in debt. One year ago, Cliffs was $2.9 billion in the red.
Despite the progress the company has made recently, officials still plan to close the Empire Mine at some point this year.
An exact date is not yet known. More than 400 people will lose their jobs as a result of the mine closure.
To view the complete report, click HERE.