Cliffs revenues up in second quarter

Public Radio 90, WNMU | By Nicole Walton

Published July 28, 2017 at 8:56 AM EDT

CLEVELAND, OH-- Cliffs Natural Resources has released its second-quarter 2017 results.

The company reported consolidated revenues of $569 million for the period ended June 30^th. That’s an increase of 15 percent compared to last year’s second-quarter revenues of $496 million.

The cost of goods sold increased by 5 percent over the same period last year to $424 million.

Cliffs says U.S. iron ore pellet sales volume in the second quarter was 4.3 million long tons—a 4-percent increase when compared to the second quarter of 2016. Officials say the rise is a result of increased customer demand.

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Nicole Walton

Nicole was born near Detroit but has lived in the U.P. most of her life. She graduated from Marquette Senior High School and attended Michigan State and Northern Michigan Universities, graduating from NMU in 1993 with a degree in English.

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