Cliffs says to cut 2014 capital spending by 25 pct

Tue May 27, 2014 4:46pm EDT
 
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May 27 (Reuters) - Cliffs Natural Resources Inc said on Tuesday it is cutting its 2014 capital spending by about $100 million, or 25 percent.

The U.S.-based iron ore and coal producer said its capex this year will now be between $275 million and $325 million. The biggest impact of the capex cut will be felt in its Eastern Canadian iron ore and North American coal operations. (Reporting by Nicole Mordant in Vancouver; Editing by Meredith Mazzilli)