Cliffs Natural Resources Terminates Agreement with Essar

Pellet Sale Agreement Ends Between Essar and Cliffs Natural Resources

Cliffs Natural Resources Inc. announced Tuesday that, effective October 5, 2015, it has terminated its Pellet Sale and Purchase Agreement with Essar Algoma.

Cliffs’ said the decision was made as a result of Essar Algoma’s multiple and material breaches under the agreement.

While the agreement has been terminated, Cliffs remains open to discussing supplying Essar with pellets on commercially reasonable terms consistent with a just-in-time iron ore supply arrangement.

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