Cockatoo produces around 1.5 to 1.8 million tonne per year DSO.
Cliffs are currently mining what they call stage 3 location ... expected to end mid / late 2012.
They could extend for maybe two years ( stage 4 )by extending the sea wall along the length. That is as far as they can go then they must pay to rehabilitate the island.
For Cliffs (and HWE) the only thing of value is stage 4 because they can't remove the shiploader for stage 5.
PLV does not need the shiploader so they can extend into stage 5.
The low grade ore is worthless to Cliffs /HWE because they cannot beneficate and the infrastructure is also worthless to them. It is valuable to PLV
There is a fair bit of Iron Ore down deep as confirmed by BHP's early drilling but that is way down the track if at all.
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