Just saw this on STHS (Thx B212) and I think it will reassure investors wrt the possibility that Cliffs might be bluffing on their "preferred road option" LOL

Warren Buffett’s Latest Berkshire Hathaway Letter to Shareholders
Quote:
Both of us are enthusiastic about BNSF’s future because railroads havemajor cost and environmental advantages over trucking, their maincompetitor. Last year BNSF moved each ton of freight it carried a record500 miles on a single gallon of diesel fuel. That’s three times morefuel-efficient than trucking is, which means our railroad owns animportant advantage in operating costs. Concurrently, our country gainsbecause of reduced greenhouse emissions and a much smaller need forimported oil. When traffic travels by rail, society benefits.
Over time, the movement of goods in the United States will increase, andBNSF should get its full share of the gain. The railroad will need toinvest massively to bring about this growth, but no one is bettersituated than Berkshire to supply the funds required. However slow theeconomy, or chaotic the markets, our checks will clear.

Now tell me again Cliffs, your reasons for thinking that starting with the development of a mine that is XX? times less profitable (Black Thor) than BD and shipping the (smelted $$) ore by a transportation method (road vs rail) that is three times more expensive as well as environmentally unfriendly....Hmmmmm!

Someone should re-callibrate their abacus!..... There's an app for that!!

Best of luck to all KWG SHs

LP