Cliffs predicts better year

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Cliffs Natural Resources expects a better 2010, running at capacity on the Iron Range and assuring workers it doesn’t expect layoffs at its plants, including its Silver Bay operation.

North American president Donald Gallagher presented the news at a breakfast Friday in Virginia that included an annual “state of the company” address. Cliffs runs Northshore Mining in Silver Bay and Babbitt and other operations on the range.

Despite a rough 2009, Cliffs announced in February that it actually finished with a net income of $205 million. It came with layoffs and slowed operations and paled compared to a $515.8 million profit in 2008.

Gallagher said Cliffs’ employees “made heavy sacrifices in late 2008 and 2009” to ease the pain for the company and its workers by avoiding deeper cuts. He said Northshore can expect some capital investments this year. Cliffs has been advertising for workers in Silver Bay since January.

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