“We are pleased to reach a new labor contract that is fair and equitable to both parties. Our most valuable resources are our employees, and we look forward to continuing our partnership with the UMW, which provides a solid platform for future achievement in our North American Coal business,” said David Webb, Cliffs’ senior vice president, Global Coal.

Cliffs indicated the final agreement was reached August 31, 2011, with a term effective July 1, 2011 through December 1, 2016.