Cliffs to Spend $1 Billion on Capacity Expansion

MarketWatch reported that Cliffs Natural Resources (NYSE:CLF) is planning a $1 billion capital expenditure on global projects.

As quoted in the market news:

Cliffs plans to start production at a chromite deposit in northern Ontario in 2015. A recent study of the area led the company to expand its output estimate to 1 million tons of chromite ore on top of the 600,000 tons of ferrochrome expected from the site.

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