“This transaction reinforces our strategy to direct management and capital resources towards long-lived expandable assets where Cliffs has operational control,” said Joe Carrabba, Cliffs’ chairman, president and CEO. Cliffs purchased its 45% economic interest in Sonoma in 2007. The mine’s 2011 production and sales volumes totaled 3.5 million and 3.1 million metric tons of coal, respectively. The product mix was approximately two-thirds thermal coal and one-third metallurgical coal. The existing mine manager, Sonoma Mine Management, will continue to be responsible for overseeing the operation with no disruptions.
