Cleveland, Ohio-based mining company Cliffs Natural Resources Inc. announced Thursday that it has reached an agreement for the sale of its previously discontinued renewaFUEL biomass production facility to RNFL Acquisition LLC. RNFL is an acquisition firm that was created by an investor group that already includes renewaFUEL's minority partners.
Cliffs idled the renewaFUEL operations last September and said that it would seek a potential buyer for the facility so that it can focus on expanding its portfolio of steelmaking raw material assets within its core mining business.