Cliffs Natural Resources completes costly exit from Ontario's Ring of Fire
from The Globe and Mail
U.S.-based Cliffs Natural Resources is set to sell its Ring of Fire assets to a small Canadian company for a fraction of the cost, a bitter end to the American miner's foray into Northern Ontario. Noront Resources will pay $20 million cash for Cliffs' chromite deposits, less than four per cent of the $550 million Cliffs paid to acquire and develop the properties.
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