Cliffs Natural Resources to Build Smelter and 3 Movers to Track

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Cliffs Natural Resource (NYSE:CLF): A group of concerned citizens, which is made up of individuals who are all “pro-Cliffs,” and it 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.

Abercrombie & Fitch (NYSE:ANF): A local screenprinting business was transferred into a much bigger building in Myrtle Beach, it has already begun to hire for a few of 79 jobs it will create because of the expansion. Native Sons, who added nearly 30 jobs in the past year and now it has nearly 70 employees, plans to immediately hire 10 to 15 second-shift workers which includes screenprinters, with salaries that ranged from $8 to $14 an hour, according to Steve Taylor, the company’s owner. The company has already printed millions of shirts in the recent years just for one of its biggest customers, retailer Abercrombie & Fitch, he said.

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Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX): By September’s end, the company’s Board of Directors approved a cash dividend of  $0.3125 per common share that will be payable on November 1, 2012 to holders of record as of October 15, 2012. The stock price reached higher than the 50-day moving average in the most recent trading session. With the conclusion of Thursday’s trading, Freeport-McMoRan shares closed 2.64 percent higher to $40.45 with over 17.48 million shares traded versus its average volume of 16.75 million shares. Its price, as of the most recent close, saw a 30 percent increase versus the 52-week low and was 21 percent lower than the 52-week high.

Phillips 66 (NYSE:PSX): A gallon of unleaded gasoline had an average price of $4.49 in California yesterday, and it is 10 more cents in San Francisco. Gas stations have begun to close either because they are unable to obtain the gasoline needed or because they are unable to afford it currently. In southern California, two refineries that are owned by Phillips 66 have been undergoing scheduled maintenance, and an Exxon Mobil Corp. (NYSE: XOM) refinery continues to recover from a power outage that paused its production.

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