Cleveland-Cliffs' ship sails again

Until recently the business of mining and processing iron ore was all about supplying Asian steel mills, but over the past 18 months an old game has returned which is about supplying North American steel mills, with one of the biggest winners being the region's oldest iron ore miner, Cleveland-Cliffs.

Tim Treadgold

The turnaround for a 170-year-old business has been a slow and at times painful process which included an ill-fated attempt to enter the Asian market by re-developing an old Australian iron ore mine, before the return to its roots as a specialist supplier operating in the Great Lakes region.