BHP, RIO, Xstrata, Peabody all confirming they are unlikely to...

BHP, RIO, Xstrata, Peabody all confirming they are unlikely to approve required capex spend in coming years as the IRR # don't stack up. CLR's bluff a very low capex and good opex so the key #s will make it almost a certainty as the scoping study should confirm +50% IRR.

GW is another story and requires consistently higher HCC prices. This will now likely happen sooner than forecast by some in my opinion given the majors reluctance to approve the spend over recent years + accelerated world growth in CY14.