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The decrease was primarily driven by the divestiture of Cliffs Logan County Coal, partially offset by increased sales from Pinnacle due to new customer contracts.
Cash production cost per tonne for North American coal was $US60.18, down 25% from $80.02 in the prior year’s first quarter.
The decrease was primarily driven by higher volumes from the remaining two mines, as well as reduced staff costs, contractor spending and repairs.
As of March 31, 2015, Cliffs management determined that the North American Coal operating segment met the criteria to be classified as held for sale.
“This determination was made in light of North American Coal’s treatment as a non-core, non-strategic asset that the company expects to sell,” it said.
