Cliffs Resources Considers Direct Reduced Iron Pellets

Reuters reported Cliffs Natural Resources (NYSE:CLF) is considering upgrading one of its mines to supply direct-reduced iron pellets for steelmakers.

As quoted in the market news:

The company, which sells metallurgical coal and iron ore to steelmakers and thermal coal to power utilities, could upgrade an existing mine for about $200 million to supply DRI, Carrabba told Reuters at the Steel Success Strategies conference.

Click here to read the full Reuters report.