CAPITAL MARKETS

Cliffs sinks on weak markets

CLIFFS Natural Resources has blamed last year’s weak seaborne iron ore pricing for its full-year net loss of $US899 million ($A877 million), compared to a net income of $1.6 billion in 2011.

Justin Niessner

Cliffs sinks on weak markets

The Ohio-based miner recorded $5.9 billion in revenues for the full year, down 11% from 2011. Excluding non-cash impairment charges, full-year income attributed to shareholders was $493 million in...

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