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Cliffs Natural Resources reports more than five-fold jump in Q1 profits

Mineweb | April 30, 2011 | 12:19 am Energy Coal Iron Ore 
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Cliffs Natural Resources Inc (CLF.N:Quote) reported more than a five-fold increase in first-quarter profit as demand and prices for its iron ore and steel-making coal soared.Net earnings were $423 million, or $3.11 per share, compared with $77 million, or 57 cents per share in the quarter a year earlier. Revenue rose 63 percent to $1.2 billion, the Cleveland-based company said on Thursday.

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