LONDON, UK / ACCESSWIRE / June 14, 2018 / If you want access to our free research report on Cleveland-Cliffs Inc. (NYSE: CLF), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CLF as the Company's latest news hit the wire. On June 12, 2018, the Company disclosed that it has signed an agreement with Australian mining services Company, Mineral Resources Ltd, to divest substantially all of the assets of its Australian Iron Ore business. The financial details and other terms of the divestment were not disclosed. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Cleveland-Cliffs most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=CLF

Details of the Divestiture

Cleveland-Cliffs' divested Australian Iron Ore business includes mining tenements, mine facility assets, port assets, and the benefit of certain contracts. Cleveland-Cliffs has negotiated and reached a settlement with certain third parties and Mineral Resources has agreed to assume certain obligations of the Company. This will allow the Company to reduce its cost of divestment by approximately $65 million to $75 million.

The deal is expected to close before the end of Q2 2018, subject to regulatory approvals and the fulfilment of closing conditions. The Western Australian government has also approved the deal.

The deal is in-line with the Company's strategy of focusing on its US-based iron ore business while exiting from the iron ore business operations in Australia.

Commenting on the divestment, Lourenco Goncalves, Chairman, President, and Chief Executive Officer (CEO) of Cleveland-Cliffs, said:

"The sale of these assets to Mineral Resources marks Cliffs' exit from the Australian iron ore business and represents the final step in the implementation of our US iron ore-centric strategy. We are pleased to have reached agreement on a transaction that not only brings real value to Cliffs shareholders, but also represents the potential for continued job opportunities for employees in Western Australia who would be impacted by the pending closure of the Koolyanobbing complex."

Cleveland-Cliffs' Asia/Pacific Business

The Company's Western Australia iron ore operations consist of the wholly-owned Koolyanobbing complex, which includes the operating deposits at Koolyanobbing, Windarling, and Mount Jackson. The Company caters to the Asian iron ore markets from these operations and provides direct-shipped fines and lump ore. The Company crushes and blends the ore at a plant located at the Koolyanobbing operations, which is then transported by rail for shipment from the port of Esperance.

About Mineral Resources Ltd

Applecross, Western Australia-based Mineral Resources is a leading industry specialist in mining services and its associated commodity production operations. Mineral Resources and its subsidiaries offer a wide range of general mine services, contract crushing, infrastructure provision, and the recovery of base metals concentrate for exports. It also provides long-term contract services to Australia's top mining Companies.

About Cleveland-Cliffs Inc.

Cleveland, Ohio-based Cleveland-Cliffs was founded in 1847 and is the largest and oldest independent iron ore mining Company and operator in the US. It completed 170 years of operations in 2017. It is a major supplier of pellets for the production of iron and steel in the US, and holds the top position as the largest iron ore producer of pellets in North America. The Company's four mines and pellet plants are all located in Michigan and Minnesota. The Company is also planning to produce Hot Briquetted Iron (HBI), for which it is currently developing a plant in Toledo, Ohio. The Company expects to be the sole producer of HBI in the Great Lakes region by 2020. Cleveland-Cliffs' consolidated revenues were $2.3 billion for FY17.

Stock Performance Snapshot

June 13, 2018 - At Wednesday's closing bell, Cleveland-Cliffs' stock slightly fell 0.68%, ending the trading session at $8.79.

Volume traded for the day: 14.41 million shares, which was above the 3-month average volume of 9.87 million shares.

Stock performance in the last month ? up 4.89%; previous three-month period ? up 22.94%; past twelve-month period ? up 41.09%; and year-to-date - up 21.91%

After yesterday's close, Cleveland-Cliffs' market cap was at $2.66 billion.

The stock is part of the Basic Materials sector, categorized under the Industrial Metals & Minerals industry.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

SOURCE: Active-Investors