Cliffs Natural (CLF) Finalizes A$141M Sale of Sonoma Coal Mine Stake
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Price: $18.83 -9.69%
Overall Analyst Rating:
NEUTRAL (
Down)
Dividend Yield: 6.4%
Revenue Growth %: -1.9%
Overall Analyst Rating:
NEUTRAL (
Down)Dividend Yield: 6.4%
Revenue Growth %: -1.9%
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Cliffs Natural Resources Inc. (NYSE: CLF) announced that its wholly owned subsidiary, Cliffs Australia Coal Pty Ltd, has finalized the sale of its 45% economic interest in the Sonoma coal mine located in Queensland, Australia to its joint venture partners, QCoal Sonoma Pty Ltd (QCoal) and JS Sonoma Pty Ltd (JSS).
Cliffs divested its interests in the Sonoma mine along with its ownership of the affiliated wash plant. The Company sold 90% of its interest to QCoal and the remaining 10% to JSS. Cliffs received approximately AUD$141 million in cash upon the closing of the transaction.
Cliffs divested its interests in the Sonoma mine along with its ownership of the affiliated wash plant. The Company sold 90% of its interest to QCoal and the remaining 10% to JSS. Cliffs received approximately AUD$141 million in cash upon the closing of the transaction.
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