Marquette, MI – (Great Lakes Radio News) – Cliffs Natural Resources is looking into getting out of mining operations in Eastern Canada.
Company officials say exiting the iron ore operations may result in the shut down of their Bloom Lake Mine in Quebec.
To make Bloom Lake viable, Cliffs says expansion of the mine would be needed at an estimated cost of $1.2 billion.
If the facility is shut down, the estimated closure costs would be in the range of $650 million to $700 million over the next five years.
The company says expansion is no longer viable at the mine and they have shifted their focus to developing an exit option for Eastern Canadian operations.
No word on any impact the decision may have on mining operations in Marquette County.