One of Cliffs’ major contracts with ArcelorMittal (MT) is coming due for renegotiation in December 2016. In 2014, ArcelorMittal constituted 40% of the revenue for Cliff’s iron ore division.

News for Cliffs Natural Resources (CLF) is not so good of late. The leading iron ore miner’s shares drift down roughly 10% last week on concerns surrounding demand for iron ore and weak pricing.

Cliffs, along with other iron ore miners globally, has been slammed by a collapse in the iron ore price on the back of a supply glut and lower demand from chief customer China. Cliffs idled its Wabush ...

Cliffs obtained Bloom Lake after acquiring Consolidated Thompson Iron Mines Ltd. in 2011. As of the end of 2013, the mine employed 579 people, 40 of which were local.