CLEVELAND, Ohio — Officials at Cliffs Natural Resources are optimistic for the future after reporting what they are calling ‘strong quarterly results.’
The company released its second quarter financial results Thursday morning. Highlights of the report include $30 million in recorded net income from continuing operations compared to a $38 million loss at this time last year. Adjusted earnings climbed to over $100 million — up $37 million from last year’s second quarter. These numbers come in the wake of a multi-year supply agreement with ArcelorMittal.
Cliffs owns and operates the Tilden and Empire Mines in Marquette County. Officials tell ABC 10 that they plan to cease operations at the Empire Mine some time within the third quarter of this year.