MESSAGE FROM THE CEO
I am writing to continue communicating on the progress we are making as we set the course for Cliffs’ future. We have been hard at work from the field to the boardroom and everywhere in between to listen, discuss, refine and ensure alignment around our strategy, goals and commitments. While the challenges we are facing in a difficult pricing environment are not to be diminished, I can tell you with confidence that I am enthusiastic about the opportunities in store for Cliffs. We work in a cyclical environment and we should expect volatility as part of our business. We are preparing the Company to perform effectively for our shareholders even in the most difficult parts of the commodity cycle. Then, during the good times, we should excel.
As I’ve shared previously, we continue to focus on our U.S. iron ore operations and to enhance this core business, while being strategic and open-minded about our global assets. It is important to remember that all our assets around the world have inherent and potential value, and are operated by talented and devoted employees. As we continue to evaluate options available to us, we will make certain our customers, employees and other stakeholders are taken care of appropriately.
Now, and more than ever, we must operate with a tremendous sense of focus and determination. In the end, the Board of Directors and management team believes that fortifying the foundation of our business through responsible and forward-looking actions will lead to the long-term success of Cliffs. We know we will be measured by the strength of our financial results, the quality of our products, the safe manner in which we operate and doing no harm to the environment. For us, these are not competing priorities but rather the balanced equation that defines success.
Our success is dependent on the outstanding efforts of everyone at Cliffs, and I am thrilled by what I’ve seen so far. I thank you once again for your continued support.
Chairman, President & Chief Executive Officer
Cliffs Natural Resources Inc.