Cliffs Natural says Scotiabank suing for breach of debt terms

Thu Mar 19, 2015 8:50am EDT
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March 19 (Reuters) - Iron ore miner Cliffs Natural Resources Inc said it has been sued by Canada's Bank of Nova Scotia for about $52.6 million for breaching some debt terms related to its Bloom Lake mine in Quebec.

The biggest U.S. iron ore miner said in January it was seeking creditor protection for its Canadian operations.

Cliffs Natural said in November it would cease production at Bloom Lake after failing to sell a 30 percent stake in the mine. (Reporting by Anannya Pramanick in Bengaluru; Editing by Saumyadeb Chakrabarty)