By Nicole Walton
Undated – Cliffs Natural Resources has completed its acquisition of Wabush Mines in Canada. Last October Cliffs announced its right of first refusal to acquire U.S. Steel Canada's 44.6 percent interest and ArcelorMittal Dofasco's 28.6 percent interest in the venture.
The deal has closed, and Cliffs now owns 100 percent of the operation it's managed since 1965. Officials say the transaction gives Cliffs more than 50 million tons of iron ore reserves.
The Wabush mines operation includes the Scully Iron Ore Mine near Wabush, Newfoundland, a pellet plant and port facilities at Point Noire, Quebec, and integrated rail facilities.