Will Cliffs Natural Resources’s Top Institutional Shareholders Remove Some Risk?

A group of concerned citizens, which is made up of individuals who are all “pro-Cliffs,” and Cliffs Natural Resource (NYSE:CLF) will have a public meeting on Oct. 15 in Capreol to strike a formal committee to make the company and government face the issue of environmental health and safety. Retired mining health and safety activist Homer Seguin stated that half a dozen citizens, including former longtime New Democrat MPP Elie Martel, were meeting for discussions regarding Cliffs Natural Resources’ intentions to construct a ferrochrome processing plant, which is to be north of Capreol. ”We’re pro-Cliffs,” stated Seguin, “because the jobs are welcome. But first and foremost comes safety.” In May, Cliffs announced its intentions for the construction of a $1.8-billion smelter at the former Moose Mountain Mine site for the processing of chromite ore that the company will mine in the Ring of Fire.

Will Cliffs Natural’s shareholders decrease their holdings? These firms reported owning a total of 48,308 shares on 09/30/2012. The shares closed at $39.13 on 09/30/2012.

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Here are the ten largest positions in Cliffs Natural Resources Inc. at the end of September 30th, 2012.

BB&T Corp held 15,838 shares on 09/30/2012 worth $619,741. This brought the portfolio total to 0.03%.

Bank of the West held 15,381 shares on 09/30/2012 worth $601,859. This brought the portfolio total to 0.12%.

Park National Corp /OH/ held 8,968 shares on 09/30/2012 worth $350,918. This brought the portfolio total to 0.03%.

Tradeworx Inc. held 8,121 shares on 09/30/2012 worth $317,775. This brought the portfolio total to 0.22%.

Capital World Investors held 17,341,700 shares on 06/30/2012 worth $854,772,409. This brought the portfolio total to 0.32%.

Vanguard Group Inc held 7,997,615 shares on 06/30/2012 worth $394,202,451. This brought the portfolio total to 0.05%.

State Street Corp held 6,294,742 shares on 06/30/2012 worth $310,267,839. This brought the portfolio total to 0.05%.

Blackrock Institutional Trust Company N.A. held 3,724,339 shares on 06/30/2012 worth $183,572,673. This brought the portfolio total to 0.05%.

Van ECK Associates Corp held 2,578,928 shares on 06/30/2012 worth $127,115,363. This brought the portfolio total to 0.64%.

Herndon Capital Management held 2,551,376 shares on 06/30/2012 worth $125,757,325. This brought the portfolio total to 2.57%.

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