-Pay attention to the name WUHAN IRON and STEEL GROUP CORPORATION

-Baosteel forms an alliance with Wuhan Iron and Steel Group in 2001

-CLEVELAND, April 12, 2011 /CNW/ -- Cliffs Natural Resources Inc. (NYSE: CLF) (NYSE:CLF) today announced that the Minister of Industry has approved Cliffs proposed acquisition of Consolidated Thompson Iron Mines Limited (Toronto:CLM.TO), under the Investment Canada Act, on the basis that the transaction is likely to be a net benefit to Canada. Cliffs indicated the Chinese Ministry of Commerce's (MOFCOM) approval is required to proceed with the closing of the acquisition. Subject to MOFCOM's approval and certain other closing conditions, Cliffs anticipates closing the acquisition early in the second quarter of 2011

"The deal which was recently approved by Consolidated Thompson shareholders, makes Wuhan Iron and Steel, one of China’s biggest steel manufacturers, its customer"

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Baosteel,

In 2001: The company forms an alliance with Shougang Group and Wuhan Iron and Steel Group Corporation, becoming the world's third largest integrated steel group; a stainless steel production partnership is formed in Shanghai with ThyssenKrupp.
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Cliffs Gets Closer To China In Iron Ore Supply

Iron ore is in high demand

Cliffs Natural Resources recently announced its decision to shift its focus away from North America to Asia. [1] Cliffs is the largest producer of iron ore pellets in North America and a major supplier of direct-shipping lump and fine iron ore out of Australia. It is also a significant producer of metallurgical coal and competes primarily with Vale, BHP Billiton and Rio Tinto.

We currently have a Trefis price estimate of $103 for Cliffs Natural Resources’s stock, about 5% above the current market price.

China moves the iron ore market

Iron ore is the principal raw material in the steel manufacturing process with 98% of all iron ore mined used to make steel and China contributes to almost half of the world’s total iron ore production. In spite of this, it is also the biggest importer of iron ore in the world due to the China’s rapid economic development, which requires a substantial increase in its steel production.

Consequently, China has also been one of the biggest factors influencing global iron ore prices in recent years.

Cliffs Makes Moves

Earlier this year, Cliffs had announced its intention to buy its Canadian rival Consolidated Thompson Iron Mines in an all cash deal. We had analyzed the possible rationales and benefits of this deal in our article, Cliffs Acquisition Aimed at Growth, Foothold in Asia. The deal, which was recently approved by Consolidated Thompson shareholders, makes Wuhan Iron and Steel, one of China’s biggest steel manufacturers, its customer.

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who did the unsecured bridge credit of 2,450 million for Cliffs?

JP morgan chase bank was administrative agent

JP morgan securities was sole lead arranger

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TORONTO, ONTARIO--(Feb. 7, 2008) - Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT) has closed a private placement of 6,500,000 units of Noront for aggregate gross proceeds of $26,000,000. Noront is very pleased to announce that Rosseau Asset Management; Pinetree Capital Ltd.; Robert McEwen, President, Evanachan Limited; Pierre Lassonde, Chairman, Franco-Nevada Corporation; Sprott Asset Management; and Northfield Capital Corporation purchased a substantial portion of the units in this private placement.

Each unit was priced at $4.00 and consists of one common share and one-half of one common share purchase warrant. ....... IBK Capital Corp. acted as agent and J.P. Morgan Securities Inc. acted as financial advisor for Noront on this transaction.