Cleveland-Cliffs said it expects the average sales revenue for iron ore pellets, lump and fine ore from its North American and Australian iron operations to grow by 7.5 percent and 15.8 percent, respectively, this year. In North America, Cleveland-Cliffs said sales revenue from its iron ore pellet production should increase to 62.13 dollars/t (61.15 dollars/long ton) in 2006. That would be up from the 2005 average of 57.82 dollars/t (56.90 dollars/long ton). Cleveland-Cliffs also owns 80 percent of Portman, a Western Australia-based iron ore producer. Sales revenues from its lump and fine ore products should average 48.26 dollars/t (47.50 dollars/long ton), up from 41.66 dollars/t (41 dollars/long ton) in 2005.
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