Cliffs Natural Resources Announces North American Thermal Coal Sales and Production Volume Adjustments
Cliffs Natural Resources (NYSE: CLF) announced Friday that it is reducing its full-year 2012 thermal coal sales and production volume expectations from 1.1 million tons to approximately 800,000 tons at its Toney Fork No. 2 surface mine in Man, WV. The adjustment is driven by a softer U.S. pricing environment for thermal coal products. The decreased volumes will result in the reduction of 46 hourly positions at the mining operation along with 13 salaried positions within the Company's administrative offices, effective June 15, 2012.
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