Cleveland Cliffs Inc (CLF)

[Democritus_of_Abdera]

Re Closure Costs...

Dew, I would have added the next paragraph in Tim Flanagan's prepared remarks in the Q1 2018 CC as well: i.e.

On the topic of the closure cost, the dollar amount assumption of our net overall cash obligations has not changed materially since we last spoke three months ago in our year-end conference call. Last quarter, we gave the assumptions that after asset sales and other mitigation strategies, we would estimate about $80 million in cash obligations. This remains the case. The range of 120 to $140 million of cash obligations reported in our 8-K disclosure was not a net figure, as it did not include the expected offsetting proceeds from the sale of assets and those other mitigation strategies. We would expect the majority of the net cash obligations to be settled within two years with about 65% to 75% of the total net amount coming this year.