Cliffs See Lower Iron Ore Sales in Canada and Asia for 2012

Platts reported Cliffs Natural Resources (NYSE:CLF) is expecting sales to drop in Canada and Asia through 2012.

As quoted in the market news:

Cliffs Natural Resources, a leading iron ore miner in North America said Thursday that the 2011 sales estimate for its Eastern Canadian and Asia Pacific iron ore segments have been revised lower to 7.4 million mt and 8.6 million mt, respectively, from its previous outlook at 8 million mt and 8.8 million mt.

The Cleveland-based miner, giving a preview of its 2011 financial results Thursday, however, said it expected to report a full-year sales volume and cash cost per mt for the North American iron ore segment to remain unchanged with the previous outlook at 24 million mt and $63/mt, respectively.

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