Cliffs Natural Resources Inc.'s subsidiary, Cliffs Greene B.V., announces acquisition of common shares of Debut Diamonds Inc. as a result of receipt of special dividend-in-kind
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CLEVELAND, OH, Feb. 1, 2012 /CNW/ - Cliffs Natural Resources Inc. ('Cliffs' or the 'Company') announces that on December 28, 2011 its subsidiary, Cliffs Greene B.V. ('Cliffs Greene'), acquired ownership, by way of special dividend-in-kind from KWG Resources Inc. ('KWG'), of 6,703,994 common shares of Debut Diamonds Inc. ('Debut Diamonds'), or 13.22% of Debut Diamonds' common shares outstanding. Pursuant to the special dividend-in-kind, for each 100 KWG shares held by Cliffs Greene, Cliffs Greene received six common shares of Debut Diamonds. Subject to restrictions under applicable law, Cliffs Greene may in the future acquire or dispose of additional securities of Debut Diamonds depending on factors such as the business and prospects of Debut Diamonds and future market conditions.
About Cliffs Natural Resources Inc.
Cliffs Natural Resources Inc. is an international mining and natural resources company. A member of the S&P 500 Index, the Company is a major global iron ore producer and a significant producer of high- and low-volatile metallurgical coal. Cliffs' strategy is to continually achieve greater scale and diversification in the mining industry through a focus on serving the world's largest and fastest growing steel markets. Driven by the core values of social, environmental and capital stewardship, Cliffs associates across the globe endeavor to provide all stakeholders operating and financial transparency.
The Company is organized through a global commercial group responsible for sales and delivery of Cliffs products and a global operations group responsible for the production of the minerals the Company markets. Cliffs operates iron ore and coal mines in North America and two iron ore mining complexes in Western Australia. The Company also has a 45% economic interest in a coking and thermal coal mine in Queensland, Australia. In addition, Cliffs has a major chromite project, in the pre-feasibility stage of development, located in Ontario, Canada.
News releases and other information on the Company are available on the Internet at: http://www.cliffsnaturalresources.com
Follow Cliffs on Twitter at: http://twitter.com/CliffsIR
For further information: A copy of the Early Warning Report that will be filed by Cliffs Greene (De Boelelaan 7, 1083 HJ Amsterdam, the Netherlands) with the relevant Canadian securities commissions in connection with this matter can be obtained via SEDAR at www.sedar.com under Debut Diamonds' profile.
Cliffs Natural Resources Inc.
CONTACT: Investor Relations Contact:
Steve Baisden, VP, Investor Relations and Communications
(216) 694-5280
