Cliffs Natural Resources CEO Carrabba to retire; Brlas out as exec VP – by Mark Dodosh (Cleveland Business – July 10, 2013)

http://www.crainscleveland.com/

Big changes are coming to the executive suite at Cliffs Natural Resources Inc. (NYSE: CLF), which over the last 12 months has seen its stock lose nearly two-thirds of its value and has run into problems with a big investment in Canada.

The Cleveland-based producer of iron ore and metallurgical coal said Joseph Carrabba has informed the Cliffs board of his plans to retire as president and chief executive officer by Dec. 31.

In addition, Cliffs said Laurie Brlas, its executive vice president and president of global operations, has retired and is leaving the company, effective immediately. The company did not give a reason for her sudden departure.

Cliffs said James Kirsch, who currently serves on the board as lead director, has been elected non-executive chairman of the board, effectively immediately, replacing Mr. Carrabba as chairman.

Mr. Carrabba will continue to serve as president and CEO and a director until a successor has been elected, after which point he also will step down from the board.

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Cliffs CEO Carrabba to leave Cleveland mining company by year’s end – by Alison Grant (Cleveland Plain Dealer – July 10, 2013)

http://www.cleveland.com/

Cliffs Natural Resources Inc. announced this afternoon that Joseph Carrabba will retire as president and chief executive officer by Dec. 31. Laurie Brlas, president of global operations and the company’s former chief financial officer, has retired and will leave immediately, Cliffs said.

James Kirsch, who is lead director of Cliffs’ board, has been elected as non-executive chairman of the board, taking that position immediately, replacing Carrabba as chairman. Cliffs also said its board has elected Mark Gaumond, 62, former senior vice chair of Ernst & Young’s Americas division, as a new director.

Also today, Cliffs declared a quarterly cash dividend of $0.15 per share. The dividend will be payable Sept. 3 to shareholders of record as of the close of business on Aug. 15.

The Cleveland-based company has struggled with a softer Chinese construction market, cutting into its seaborne ore sales. Cliffs idled iron ore mines in Michigan and Minnesota and also announced in November it would postpone expansion of its Bloom Lake mine in Canada.

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NEWS RELEASE: Cliffs Natural Resources Inc. Announces CEO Succession Plan

 – Joseph Carrabba Announces Plan to Retire as President and CEO by the End of 2013

– James Kirsch Named Non-Executive Chairman
– Laurie Brlas to Retire as EVP & President, Global Operations, Effective Immediately
– Office of the Chairman Formed to Facilitate Smooth Transition

CLEVELAND, July 9, 2013 /PRNewswire/ — Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) today announced that Joseph Carrabba has informed the Board of Directors of his plans to retire as the Company’s president and chief executive officer by Dec. 31, 2013. James Kirsch, who currently serves on Cliffs’ Board as lead director, has been elected non-executive chairman of the Board, effectively immediately, replacing Mr. Carrabba as chairman.

(Logo: http://photos.prnewswire.com/prnh/20101104/CLIFFSLOGO )

Mr. Carrabba will continue to serve as president and CEO and a Director of the Company until a successor has been elected, after which point he will also step down from the Board. Cliffs’ Board has retained an executive search firm, Heidrick & Struggles, to help identify candidates to lead the Company. To facilitate the transition, Cliffs has formed an Office of the Chairman, led by Mr. Kirsch. The Company also announced today that Laurie Brlas has retired as executive vice president and president, global operations and is leaving the Company, effective immediately.

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Debate flares up over Northern Ontario’s Ring of Fire – by Josh Wingrove (Globe and Mail – July 6, 2013)

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

THUNDER BAY, ONT. – This is familiar turf for Michael Gravelle. He is in his second stint as Ontario’s point man on northern mining, an increasingly high-stakes gig rooted in his own backyard.

His hometown of Thunder Bay is the gateway for the Ring of Fire, which he bills as the biggest Ontario mining project in a century. Governments at all levels are eyeing the potential of Northwestern Ontario’s vast untapped resource deposits, while mining services companies set up in the city hoping to catch a multibillion-dollar boom.

But slumping commodity prices, environmental questions and delays threaten the Ring of Fire, which lies about 500 kilometres north of Thunder Bay, and hopes of a windfall in the region. One company has halted its environmental review, while First Nations and Thunder Bay’s mayor say the province has been slow to act.

Cue Mr. Gravelle, the local MPP who, five months ago, was shuffled back to the job of Minister of Northern Development and Mines. He is optimistic despite setbacks and tensions.

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CBC The House interviews Minister Tony Clement on the Ring of Fire challenges – (July 6, 2013)

http://www.cbc.ca/thehouse/ This week on The House, guest-host Susan Lunn interviews Tony Clement, the federal government’s minister responsible for the Ring of Fire. The proposed mining development in the massive Ring of Fire in Northern Ontario could, according its proponents, transform some of Canada’s most disadvantaged native communities. But an internal government briefing note obtained by …

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Equals go toe-to-toe over Ring of Fire – Thunder Bay Chronicle-Journal Editorial (July 5, 2013)

Thunder Bay Chronicle-Journal is the daily newspaper of Northwestern Ontario.

Let’s all say a prayer for former federal Liberal leader Bob Rae and former Supreme Court Justice Frank Iacobucci. These two individuals, so highly regarded in their respective fields, are stepping into the ring of negotiations to help clear a path for the development of the Ring of Fire.

It’s a colourful name applied to a huge swath of land some 500 kilometres northeast of Thunder Bay, which is home to massive deposits of minerals, and with it, wealth. Although prospectors and mining companies have been pecking away at this virgin region for many years, it has been the arrival of Cliffs Natural Resources and the discovery of a massive deposit of chromite that has really drawn attention to the bounty of the James Bay lowlands.

As the estimates of development and wealth started to soar, so did the interest of neighbouring aboriginal communities. The result has been a frustrating and sometimes dangerous confrontation between First Nations interests and those of the companies wishing to set up a base there.

It’s a simple set of questions when you unravel the rhetoric. Do exploration and mining companies and their investors and the Canadian public at large deserve a compensating share of the wealth the ground will yield?

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Negotiators in Ring of Fire make big bucks – CBC News Thunder Bay (July 4, 2013)

http://www.cbc.ca/thunderbay/

Better governemnt policy would eliminate need for negotiators, First Nation policy analyst says

Ontario taxpayers are footing a bill in the hundreds of thousands of dollars for negotiations on the future development of the Ring of Fire region, and one First Nations policy analyst sees it as money poorly spent.

Former Supreme Court Justice Frank Iacobucci and former Liberal MP Bob Rae are being paid by the province to work out a mining deal between the province and nine First Nations, closest to the mineral reserves. But First Nations policy analyst Russell Diabo said that expense could be spared if governments imposed mining rules that respect treaty rights.

“So there are ways to streamline it if the political will is there. But often the economic interests are so great that they want to subjugate First Nations interests and make it complicated where they can,” Diabo said

The government hopes to see billions of dollars in investment in the mineral-rich area, investment it hopes will also benefit First Nations in the area.

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Ring of Fire Negotiators Pay – CBC News Thunder Bay (July 4, 2013)

http://www.cbc.ca/superiormorning/ Morning radio show Superior Morning highlights what’s happening now in Thunder Bay and Northwestern Ontario. Rae vs Iacobucci. Those are the two high profile negotiators for the Ring of Fire mining development. But First Nation policy analyst Russel Diabo wonders who will really benifit. Hear what he has to say. Click here for radio …

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Nishnawbe-Aski Nation wants in on Ring of Fire talks – by Jody Porter (CBC News – July 3, 2013)

http://www.cbc.ca/thunderbay/

Ontario can’t ignore other First Nation concerns, NAN deputy chief says

One day into his new role and fresh challenges are cropping up for the province’s negotiator in the Ring of Fire. Ontario appointed former Supreme Court Justice Frank Iacobucci on Tuesday as it’s negotiator in talks with the nine Matawa chiefs whose communities are closest to the proposed mining development.

Former Ontario Premier Bob Rae is representing those chiefs in the planned talks. But the Nishnawbe Aski Nation says it needs a seat at the table too. “This is not just a specific regional project, in fact it is a treaty-wide impact and I think that’s what the province needs to recognize,” NAN deputy chief Les Louttit. “We would like to see a broader negotiation framework.”

Lessons from Attawapiskat

Nishnawbe Aski Nation represents 49 First Nations in Northern Ontario. Louttit said communities on the James Bay coast, downstream of the proposed mining development, are especially concerned about environmental impacts.

That’s also the area that has learned hard lessons about the mining industry from its experience with the diamond mine near Attawapiskat, he said. “We cannot simply keep going the way we have in the past,” Louttit said.

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Ex Supreme Court justice Iacobucci in Ring of Fire talks – by Richard J. Brennan (Toronto Star – July 3, 2013)

The Toronto Star has the largest circulation in Canada. The paper has an enormous impact on federal and Ontario politics as well as shaping public opinion.

Former Supreme Court of Canada justice Frank Iacobucci is Ontario’s lead negotiator dealing with First Nations in Ring of Fire development.

Queen’s Park has turned to veteran jurist Frank Iacobucci to be the province’s lead negotiator in Ring of Fire resource development talks with Matawa Tribal Council chiefs.

Referred to as one of most promising mineral developments in Ontario in almost a century, the resource rich Ring of Fire, 540 kilometres northeast of Thunder Bay, includes the largest North American deposit of chromite, a key ingredient used in stainless steel.

“I hope we can get an agreement . . . to have the involvement and participation of the First Nations in a fair and honourable and equitable manner,” the former Supreme Court of Canada justice told the Star after his appointment was made public Tuesday.

“This is not a quick fix and it has got to be the right fix,” he said. “This is a huge opportunity for economic development for the province, for the (mining) companies and . . . for the First Nations people.”

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Province names Ring of Fire go-to guy – by Carl Clutchey (Thunder Bay Chronicle-Journal – July 3, 2013)

Thunder Bay Chronicle-Journal is the daily newspaper of Northwestern Ontario.

One of the country’s best legal minds will sit down with a former premier and Rhodes scholar when the Ontario government and Matawa Tribal Council discuss the impacts of mining development in the Ring of Fire.

The province announced Tuesday it has appointed retired Supreme Court of Canada justice Frank Iacobucci as its Ring of Fire negotiator for talks with the Matawa group, which represents half a dozen fly-in reserves in the immediate ROF orbit.

The position follows news last month that main ROF proponent Cliffs Natural Resources has temporarily halted its work on the environmental assessment for its chromite project.

Specifically, Iacobucci is to focus on environmental protection and monitoring, planning and development, revenue sharing, and social and economic supports for First Nations as they relate to future mining in the ROF belt located 540 kilometres northeast of Thunder Bay.

The 76-year-old Iacobucci, who recently authored an unflattering report about how aboriginals are being disadvantaged by the province’s justice system, called his appointment an “honour.”

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NEWS RELEASE: Ontario Appoints Lead Negotiator for Ring of Fire

Ontario and Chiefs of the Matawa Tribal Council Negotiators to Develop a Negotiation Framework

NEWS – July 2, 2013

Ontario has appointed former Supreme Court of Canada Justice Frank Iacobucci as lead negotiator on behalf of Ontario in discussions with Chiefs of the Matawa Tribal Council on resource developments in the Ring of Fire, a project that will create jobs and grow Ontario’s regional economies.

Former Justice Iacobucci looks forward to community-based discussions on regional considerations with the Chiefs of the Matawa Tribal Council and their lead negotiator, Bob Rae. Mr. Iacobucci hopes to be invited to visit the Matawa First Nations communities closest to the proposed resource developments in the Ring of Fire prior to engaging in more formal negotiations. He hopes to address the following priorities:

• Environmental protection and monitoring
• Regional infrastructure planning and development
• Resource revenue sharing
• Social and economic supports

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The week that was in the Ring of Fire – by Wendy Parker (InSupportOfMining.com – June 28, 2013)

http://insupportofmining.wordpress.com/

Lots of active non-action in the Ring of Fire this week. Cliffs Natural Resources continued to walk back from its Ring of Fire adventure with an announcement that Dana Byrne, vice president responsible for government and public relations, will retire on July 1.

“Over the past three years, Mr. Byrne has been extensively involved with the company’s chromite project in the Ring of Fire located in Northern Ontario,” the company said in its announcement. “His work with the First Nations and familiarity with all aspects of the government’s interests in this project has and continues to be invaluable to Cliffs.”

Byrne will maintain his invaluable 34-year ties with the Ohio miner through a one-year consultancy.

His replacement is Raga Elim, who vacates his position as director – global government relations to take up the job of vice president – global corporate and government affairs, as well as responsibility for the company’s global communications and public affairs functions.

Elim, who has been with Cliffs but a couple of years, previously served as the head of Rio Tinto’s Washington, D.C. government affairs office. He has extensive experience with a variety of American governments and was “a speechwriter at the last four Presidential Election Conventions for one of the major political parties,” which suggests, we suppose, that he is well-connected in a vague but interesting way.

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Noront offloads interest in Quebec project, focuses on Ring of Fire – by Henry Lazenby (MiningWeekly.com – June 28, 2013)

http://www.miningweekly.com/page/americas-home

TORONTO (miningweekly.com) – Explorer Eagle Hill has consolidated its ownership of the prospective Windfall Lake project, in the Abitibi mining camp of northern Quebec, as project developer Noront Resources agreed to sell its 25% interest in the project for $5-million in cash and 25-million shares.

Noront said selling its interest, royalty interests and all other associated rights in the noncore asset provided it with an immediate cash infusion that would be put to use in developing the company’s flagship Eagle’s Nest project, in the chromite-rich Ring of Fire-region of northern Ontario, while the equity interest in Eagle Hill would allow it to participate in the upside potential of the Windfall Lake gold project.

Eagle Hill had also entered into a binding letter agreement with its strategic partner Southern Arc, under which Southern Arc Minerals had agreed to invest, together with Dundee Corporation, a total of $12-million in Eagle Hill to complete the Windfall Lake transaction and advance the project. Dundee had been a shareholder in Eagle Hill since February 2012, and currently owned an 18.8% interest in Eagle Hill.

Noront had previously agreed to sell its stake in the Windfall Lake project to gold producer Maudore Minerals. Completing of the transaction was still subject to obtaining shareholder approvals of Eagle Hill and Southern Arc to finance the agreement, for which Eagle Hill had already paid a non-refundable deposit of $615 000 and obtaining all required stock exchange and regulatory approvals.

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Ring of Fire mining may not benefit First Nations as hoped – by David McKie (CBC News – June 27, 2013)

http://www.cbc.ca/news/business/

Click here for the Aboriginal Affairs briefing note: https://www.documentcloud.org/documents/717490-aborigiunal-affairs-ring-of-fire-briefing-note-a.html

Internal memo from Aboriginal Affairs paints troubling picture

Northern Ontario is poised to become a mining mecca for its billions of dollars in chrome, copper, nickel and platinum deposits, but First Nations communities must overcome many social and economic hurdles if they hope to derive economic benefit.

That stark assessment is contained in a briefing note to the aboriginal affairs and northern development minister obtained by CBC’s Power & Politics through the Access to Information Act.

“First Nations in the Ring of Fire are some of the most socioeconomically disadvantaged communities in all of Canada,” reads the Feb. 4, 2013, briefing note.

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