Xstrata exists under Glencore who bought them. What's in a name.

Ring of Fire chromite mine need not be a massive project just long term one, a couple of billion bucks to such a corporation is like you spending 10 bucks ( I assume most here are not loaded). Even to Cliffs it might be like 2000 bucks. Understandably Cliffs is reluctant in times of cutbacks but if need comes to crunch even they would go for it.

And a chinese company is interested, Bao not in buying but securing a source, very pragmatic on their part.