Cliffs Natural Resources Inc. Garners Top Honors for Raw Materials & Mining Leadership Award at Platts Global Metals Awards
CLEVELAND, May 20, 2016 /PRNewswire/ -- Cliffs Natural Resources Inc. (NYSE: CLF) announced today it took top honors at the fourth Annual Platts Global Metals Award for the Industry Leadership Award for Raw Materials & Mining. Cliffs Natural Resources and its leadership were recognized for its strategic vision and strong operating performance. The winners were announced last night during the Global Metals Awards ceremony in London, England.
Lourenco Goncalves said, "It is a tremendous honor to be selected and recognized by Platts as the top mining company within the metals industry. There is no real company without an effective strategy, and no strategy without execution. I want to thank my senior executive management team, and all Cliffs' employees for their great execution and great commitment with our company."
The "Industry Leadership Award" honors a company that has taken decisive action resulting in a substantial transformation or change of direction in their sector of the metals industry. Leadership, market expansion, corporate integrity and financial success are the core characteristics these categories celebrate. In addition, they praised the "strong culture of safety" that allowed Cliffs to maintain -- even improve -- its record of outperforming industry peers in safety metrics.
Judges noted how, under the leadership of CEO Lourenco Goncalves, Cliffs was able to sidestep the issues associated with shrinking steel demand in China by electing to withdraw from the volatile seaborne iron ore market and make a strategic shift to focus on its US iron ore business, taking advantage of the opportunities for growth in supplying steelmakers with higher grade direct-reduced iron. Judges hailed Cliffs as "prescient" and commended the Company's Board of Directors for hiring Mr. Goncalves, "a man who could make tough decisions" to set a new standard for his industry.
Cliffs was selected among six finalist companies by an independent panel of judges for the Industry Leadership Award - Raw Materials & Mining.
About Cliffs Natural Resources Inc.
Cliffs Natural Resources Inc. is a leading mining and natural resources company in the United States. The Company is a major supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. Cliffs also operates an iron ore mining complex in Western Australia. Driven by the core values of safety, social, environmental and capital stewardship, Cliffs' employees endeavor to provide all stakeholders operating and financial transparency.
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SOURCE Cliffs Natural Resources Inc.
Released May 20, 2016