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The Company is a producer of iron ore pellets in North America and sells its pellets to integrated steel companies in the United States and Canada.
If Australia imposes a 40% tax on any profits Cliff or any other producer has, more and more people will sell their Cliffs and look for something in another country that isn't imposing this tax. I am holding on for the ride in hopes that it won't pass. But my gut feeling the way the stock has dropped in the last several days is I am probably a big fat loser buying this. I hope I am wrong.
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