Iron ore fuels Cliffs Natural Resources' business engine. The company produces iron ore pellets, a key component of steel making, and owns or holds stakes in five iron ore properties that represent more than half of the US' iron ore production capacity. Cliffs' operations, including Northshore Mining and Empire Iron, produce 32.9 million tons of iron ore pellets annually. The company sells its ore primarily in North America but also in Europe and Asia. It also has a growing number of iron ore interests in the Asia/Pacific region and in Latin America. Cliffs had coal mining operations in North America but exited this business in 2015.