Cliffs Natural Resources (CLF), WEC Energy (WEC) Clarify Statement on Proposed Energy Project in Michigan UP

August 16, 2016 6:13 AM EDT

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WEC Energy Group Inc. (NYSE: WEC) and Cliffs Natural Resources Inc. (NYSE: CLF) issue the following clarification statement about project funding for the proposed natural gas-fired power solution in the Upper Peninsula of Michigan:

WEC Energy Group through its affiliates will fund the entire $255 million investment. Cliffs and/or its affiliates are not investing any capital toward the above mentioned project. The proposed solution will be advanced as a WEC Energy Group investment to be wholly-owned and operated by WEC and/or its affiliates.

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