Cliffs receives vital approval for Consolidated Thompson acquisition

Cleveland, Ohio-based iron ore mining company Cliffs Natural Resources Inc. announced Monday that the Chinese Ministry of Commerce (MOFCOM) has approved Cliffs' proposed acquisition of Consolidated Thompson Iron Mines Limited.

MOFCOM is the final regulatory agency whose approval was necessary to proceed with the closing of the acquisition-Cliffs anticipates to officially close to deal on May 12, 2011.