value of the 2 percent royalty , page-19

Thanks for your compliment, wisdom and Trees.

Trees, I somehow tend to agree with wisdom regarding timing of the royalty though my original post is about the value of it.

When we look at the possibility of how close Cliffs is going to start develop Johnson Range, we need to look at how much reserves Cliffs has at its Australian operations. According to a July/August 2010 Issue of the Steel Times International, Cliffs' Australian operations only have reserves lasting till 2018, with a mine life of their Cockatoo Island operation only through 2012. I doubt Cliffs is going to wait till 2018 to develop Johnson Range. Here is the link, happy reading :-)

http://www.steeltimesint.com/contentimages/features/Iron_Ore.pdf