BUZZ-Cliffs Natural Resources Inc: To sell chromite assets in Canada

Mon Mar 23, 2015 9:40am EDT
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** Coal and iron ore miner's shares up 4.4 pct at $4.49

** Company to sell its chromite assets in Canada to Norton Resources Ltd for about $20 mln

** Deal includes sale of Cliffs Natural's indirectly owned subsidiaries Cliffs Chromite Ontario Inc and Cliffs Chromite Far North Inc

** Company says deal is part of its strategy to focus on being major supplier of iron ore pellets to North American steel industry

** Up to Friday's close, stock had fallen 78 pct in past 12 months