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Cliffs exits Ring of Fire

US iron ore producer Cliffs Natural Resources has finally agreed to sell off its chromite assets in Canada’s Ring of Fire, almost 18 months after downing tools at the project following a rejection of its infrastructure plans.

The company agreed to sell all of its assets in the Ring of Fire to the next biggest company in the district, Noront Resources, which should the deal go through would own roughly 65%, or 80,000ha, of