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Cliffs cutting capital expenditures by 50%, laying off 500 employees

Ana Komnenic | February 11, 2014 | 11:36 pm Canada Europe Iron Ore 

Just a couple days ahead of its 2013 financial results, Cliffs Natural Resources (NYSE:CLF) has announced that it will lay off about 500 employees and significantly reduce spending. The US-based iron ore producer will cut capital expenditures to between $375...

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