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Cleveland-Cliffs profit plummets on soft iron ore demand, pricing

Goncalves promises to return more cash to shareholders

Henry Lazenby

Cleveland, Ohio-based Cliffs' profits dropped to just US$91 million, or 33c a share, from $438 million, or $1.41 a share, a year ago. The board has authorised a $100 million common share buyback programme...

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