Cliffs Natural Resources resolves dispute over "take or pay" provision of 2006 requirements contract
Clients Cliffs Natural Resources Inc.
Jones Day represented Cliffs Natural Resources Inc., an iron ore supplier, in a dispute concerning the "take or pay" provision of a multi-year requirements contract. A customer of Cliffs disputed its obligation to purchase a fixed minimum amount of iron ore every contract year. The matter was resolved with a new agreement between the parties.