The Cleveland-based mine operator, Cliffs Natural Resources Inc. is pondering to sell its nine million shares in order to financially cushion its business acquisition with Consolidated Thompson Iron Mines Ltd. for C$4.9 billion ($4.95 billion). As per reports, the company is yet to pay complete debt, though it had already paid $1.25 billion through term loan and $1.25 billion via bridge financing in addition to direct cash.

As per market watchers, by acquiring Consolidated Thompson Iron Mines recently, Company has reaffirmed its grip of almost 60% in the market spread across North America,

Backed by strong demand from China compounded by bleak chances of fresh capacity for iron–ore, Company has predicted spike in prices in the near term, even though it managed to project consistent growth in the market in terms of sale and volume.

The North America’s business has always been consistent for the Company, though it had done trade with Australian and other countries. However, the market seems to be a tough battle for Cliff which is facing fierce competition from other international mining and natural resources companies like Vale, BHP Billiton and Rio Tinto.

Moreover, dependency of Cliff’s business on steel and subsequently, on wide range of macro-economic factors has put Cliff into vulnerable spot in the international market.