Cliffs Natural Resources Inc. Reaches Labor Agreement with United Mine Workers at Pinnacle and Oak Grove Mines
CLEVELAND, Sept. 1, 2011 /PRNewswire/ -- Cliffs Natural Resources Inc.
(Paris: CLF) announced today that 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. Cliffs indicated that the agreement is essentially identical to an agreement reached by the Bituminous Coal Operators' Association (BCOA) and the UMW earlier this year.(Logo: http://photos.prnewswire.com/prnh/20101104/CLIFFSLOGO )
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.
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 two iron ore mining complexes in Western Australia. The Company also has a 45% economic interest in a coking and thermal coal mine in Queensland, Australia. In addition, Cliffs has a major chromite project, in the pre-feasibility stage of development, located in Ontario, Canada.
News releases and other information on the Company are available on the Internet at: http://www.cliffsnaturalresources.com/
Cliffs Natural Resources Inc.
CONTACT: Steve Baisden, Vice President, Investor Relations and
Communications, 1-216-694-5280, or Jessica Moran, Manager, Investor
Relations, 1-216-694-6532, or Patricia Persico, Sr. Manager, Media Relations
and Marketing Communications, 1-216-694-5316
Web Site: http://www.cliffsnaturalresources.com/