Cliffs Natural Resources Inc.
) has announced that its North American Coal operations have
received ISO 14001 certification. The achievement testifies the
company's good environmental practices and its endeavor to bring
continuous improvement. This honor also represents Cliffs'
commitment to responsible, safe and sustainable coal
ISO 14001 is the International Standard for Environmental
Management Systems (EMS). It is the principal management system
standard, which specifies the requirements for the formulation
and maintenance of an EMS.
There are three fundamental commitments required in an
environmental policy that meets the requirements of ISO 14001.
These are prevention of pollution, compliance with legislation
and continual improvement of the EMS. These commitments help
drive improvements in overall environmental performance.
Cliffs' subsidiaries Pinnacle Mining Company and Cliffs Logan
County Coal in West Virginia have also received EMS
certification. Oak Grove Resources, located near Birmingham,
Ala., was recommended for ISO 14001 certification.
Cliffs is slated to release its fourth-quarter 2012 results
after the closing bell on Feb 12. It expects to incur a $1
billion charge in the quarter related to the acquisition of
Consolidated Thompson Iron Mines Ltd. It will be recorded as a
goodwill impairment charge and as a non-cash expense for the year
ended Dec 31, 2012.
Cliffs expects to incur the charge due to the project's lower
long-term volumes and higher capital and operating costs. Delay
in the Phase II expansion of the Bloom Lake mine also led to the
impairment. Cliffs also expects to incur $100 million to $150
million in other charges related to its Eastern Canadian iron ore
Cliffs' currently retains a Zacks Rank #2 (Buy).
Other companies in the iron mining industry having a favorable
Zacks Rank are
Kumba Iron Ore Ltd.
MMX Mineracao E Metalicos SA
). While Kumba Iron Ore carries a Zacks Rank #1 (Strong Buy), MMX
Mineracao and Vale hold a Zacks Rank #2 (Buy).
CLIFFS NATURAL (CLF): Free Stock Analysis
(KIROY): ETF Research Reports
(MMXMY): ETF Research Reports
VALE SA (VALE): Free Stock Analysis Report
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