US iron-ore miner Cleveland-Cliffs posted net income of $1.1-billion in 2018, eclipsing the previous year’s income of $363-million, on the back of an increase in revenue.
Revenue jumped to $2.3-billion, from the prior year’s $1.9-billion, while cost of goods sold and operation expenses increased to $1.5-billion, from $1.4-billion in 2017.