Mississauga, ON -- (SBWIRE) -- 03/23/2015 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "Noront Resources to Acquire Properties in the Ring of Fire."
Companies mentioned in this article include BHP Billiton (NYSE:BHP), Cliffs Natural Resources (NYSE:CLF) and Noront Resources Ltd. (TSX-Venture:NOT).
The slowdown in China, combined with increasing supplies, has led to a sharp pullback in prices of several industrial metals. The "commodity supercycle" which was driven by China's appetite for resources has come to an end. Not surprisingly, metals and mining companies that had expanded during this boom period are now looking to streamline their operations and focus on core areas.
Several major mining companies have already sold a number of non-core assets. Recently, BHP Billiton (NYSE:BHP) announced a demerger (A demerger is a form of corporate restructuring in which the entity's business operations are segregated into one or more components. It is the converse of a merger or acquisition.) BHP though is in a reasonably strong position and is only divesting some of its non-core assets to streamline operations. There are, however, several mining companies that have been under pressure due to weak prices of industrial metals and are now forced to sell some of their assets.
Cliffs Natural Resources (NYSE:CLF) is one such company. CLF is a producer of iron ore and metallurgical coal. Both markets though have been struggling. Iron ore prices have been under pressure since last year due to the slowdown in China. It is not surprising that CLF is now looking to divest some of its non-core assets.
This morning CLF announced that it will sell its chromite assets as part of its strategy to focus on becoming a major supplier of iron ore pellets in the North American steel industry. The company that will be buying these assets is Canada-based Noront Resources Ltd. (TSX-Venture:NOT), which is engaged in the development, exploration and acquisition of properties prospective in base and precious metals.
The full version of this article can be found at:
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