Cleveland, Ohio-based Cliffs Natural Resources announced Thursday that it has closed on its acquisition of Montreal, Quebec-based iron ore mining company Consolidated Thompson Iron Mines Limited. Cliffs announced in January 2011 that it would purchase Consolidated Thompson for C$4.9 billion (US$5 billion).
Consolidated Thompson is now an indirect wholly-owned subsidiary of Cliffs Natural Resources and will be rebranded under the Cliffs name.