The Rising Influence of Rising Affluence

[DewDiligence]

NUE could be one of CLF’s Bloom-Lake partners, according to sources:

http://online.wsj.com/articles/nucor-in-talks-with-cliffs-over-stake-in-canadian-iron-ore-mine-1414774696

Nucor Corp. is in talks to invest in Cliffs Natural Resources Inc. Bloom Lake iron ore mine in Canada, according to a person familiar with the matter.

Two Japanese steel companies would also be part of the venture, which would allow Cliffs to more than double production at the mine in Quebec to 13.5 million tons a year. The total capital expenditure required would be $1.2 billion. The three partners, along with Wuhan Iron and Steel Co., an existing partner, would buy the iron ore produced at the mine.

According to CLF's 3Q14 CC, the new Bloom Lake partners together with Wuhan will own a 47% equity stake in the mine and will ink long-term contracts for 100% of the production.

Stay tuned.