Article says: "Gravelle said 20 other mining companies have interests in the Ring of Fire. Many mining analysts believe those companies don't have the financial backing to develop the project, but Gravelle remains optimistic."

Naming the top 10 (even the top 3 would be fine) out of 20 for backing up his statement would be informative. He does not need to include KWG and NOT, since only the deep pockets would count. My first guess for the top 7 with deep pockets, not in any particular order, would be:

- ArcelorMittal

- Baosteel

- Glencore/Xstrata

- ThyssenKrupp

- India (Tata Steel?)

- Japan ( Nippon Steel?)

- South Korea (Posco?)

We need to keep a sharp eye on Baosteel, in view of Premier Wynne's visit to China and all the hints from the Chinese (especially the Consult General in Toronto, Mr. Fang Li). It may take the next step by taking over Cliffs assets (which include the 10-14% of KWG). Another step would be to increase this stake (and NOT stake as well) to something near 50% (but stop short of being a controlling shareholder, 49% with a guaranteed long-term supply of chromite products and Ni would be just fine for them).

Comments?

goldhunter