Cliffs Natural Resources is an international mining and natural resources company, a iron ore producer and a producer of metallurgical coal. In the U.S., Co. operates five iron ore mines in Michigan and Minnesota, six metallurgical coal mines located in West Virginia and Alabama and one thermal coal mine located in West Virginia. Co. also operates two iron ore mines in Eastern Canada. As of Dec 31 2012, Co.'s Asia Pacific operations consist of its Koolyanobbing iron ore mining complex in Western Australia. Co.'s operations are: U.S. Iron Ore, Eastern Canadian Iron Ore, Asia Pacific Iron Ore, North American Coal, Latin American Iron Ore, Ferroalloys and its Global Exploration Group.
Many commodity and natural resources stocks have been left behind while the broader market indices make record or multi-year highs. A look at SPDR S&P Metals & Mining (NYSE: XME) shows the sector ETF is down 18% year to date versus a nearly 15% gain in the S&P 500. However, a minor recovery bounce has taken this group off its recent extreme lows.
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