Cleveland Cliffs: "Mmm … coal"

According to today’s Duluth News-Tribune, one of the Iron Range’s well-known eastern iron mining overlords, Cleveland Cliffs, is merging with Appalachian coal mining company Alpha Natural Resources. The new company will be called Cliffs Natural Resources, becoming one of the nation’s largest mining companies.

It might not be a bad idea to buy this new stock, because iron and coal prices are both rising at alarming rates. Also, buy a wind turbine and start digging a geothermal heating system because you won’t be able to afford electricity soon.

Perhaps I’m getting ahead of myself. Anyway, this will affect the future of the Iron Range in some yet unknown way. I’m open to theories.

PS: I’m investigating a rumor that this new company might merge with Heinz Ketchup and become ThingsThatStainYourPants Co.

Comments

  1. Hokey smoke!! Cleveland Cliffs owns the old Reserve Mining operation in Babbitt/Silver Bay!!

    Thanks for the story, Aaron!

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