BUZZ-Cliffs Natural Resources Inc: Quebec ready to buy co's assets -Bloomberg

Tue May 5, 2015 1:55pm EDT
 
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** Iron ore miner's shares up 10.9 pct at $6.50

** Quebec government says is prepared to buy assets servicing Cliffs' iron-ore mine, according to Bloomberg (bloom.bg/1GXdfGx)

** Quebec also open to buying 20 pct of Bloom Lake mine to facilitate deal, Bloomberg reported Economy Minister Jacques Daoust as saying

** Cliffs decided in November to close Bloom Lake iron mine after struggling to secure funds to expand the project

** Up to Monday's close, stock had fallen 68 pct over last 12 months