Last week the Sydney Morning Herald reported on analyst speculation that the new board would first try to sell the Koolyanobbing iron ore operations in Western Australia.
“The new board of Cliffs is expected to pursue a sale price for the Australian asset of more than $US1 billion ($A1.08 billion) but Credit Suisse has warned the market price would be closer to $400 million given the assets have a mine life of just six years,” the newspaper reported.
Cliffs, which has the Pinnacle, Oak Grove and Cliffs Logan County coal operations across West Virginia and Alabama, is also subject to speculation it will end up focusing more on its stronger performing Michigan and Minnesota-based iron operations.
