The combined company, which will be renamed Cliffs Natural Resources, will become one of the largest U.S. mining companies and be positioned as a leading diversified mining and natural resources company. Cliffs Natural Resources’ mine portfolio will include nine iron ore facilities and more than 60 coal mines located across North America, South America and Australia. The company’s significant position in both iron ore and metallurgical coal will make it a major supplier to the global steel industry, as well as provide a platform for further diversification both geographically and in terms of the mineral and resource products it sells.

Joseph A. Carrabba, Cleveland-Cliffs’ chairman, president and CEO, said, “By combining our companies’ complementary operations and management capabilities, we will be well positioned to meet the world’s increasing demand for raw materials.”

“Together, Alpha and Cleveland-Cliffs will have the size, the management depth and the mining expertise to compete on the global stage as demand for raw materials continues to increase around the world,” said Michael J. Quillen, Alpha’s chairman and CEO.

The combined companies will have a reserve base of approximately 1 billion tons of iron ore and approximately 1 billion tons of metallurgical and thermal coal. Cliffs Natural Resources anticipates having an annual sales volume in excess of 30 million tons of iron ore and nearly 18 million tons of metallurgical coal, making it one of the largest suppliers to the world’s steel industry.

In addition to positions in iron ore and metallurgical coal, the company will also ship approximately 17 million tons of thermal coal.

Carrabba will serve as chairman and CEO of the combined company, and Michael Quillen will serve as non-executive vice chairman. Cliffs Natural Resources will have two operating divisions— Iron Ore and Coal. Kevin Crutchfield, currently president of Alpha Natural Resources, will become president of the combined company’s coal businesses. Donald Gallagher, currently Cleveland-Cliffs’ president, North American Business Unit, will become president of the combined company’s iron ore businesses. Cliffs Natural Resources' world headquarters will be located in Cleveland. The iron ore business will operate from Cleveland and the coal business from Abingdon, Virginia.