BUZZ-Cliffs Natural Resources Inc: Quebec in talks to reopen Bloom Lake mine-Bloomberg

Thu Jan 8, 2015 12:01pm EST
 
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** U.S miner's shares up 5.4 pct at $7.21

** Quebec's government and the miner are in talks about restarting the Bloom Lake iron ore mine, the country's energy and natural resources minister told Bloomberg (bloom.bg/1tNxEGO)

** Investissement Quebec, an investment arm of the provincial government, is talking to Cleveland-based Cliffs "about the next step," the minister told Bloomberg

** Cliffs had said in November it might have to close the mine at a cost of up to $700 mln as it struggles to find funds to expand the project to make it more financially viable

** Through Wednesday, the stock had fallen 56 pct since June driven by a 26 pct decline in iron ore prices