Cliffs To Cut Iron Ore Production

Cliffs Natural Resources, the biggest iron-ore producer in North America, has gone ahead with plans to cut output at its six U.S. and Canadian mines.

In response to falling demand and prices, output will be 22–24 million tons this year, down from 36 million tons in 2008. "We have appropriately taken aggressive steps to manage our production," says Joseph Carrabba, chairman.