"Ontario, please stop saying the Ring of Fire is worth $60 billion."

Not worth that much but that there is that value of known ore in the ground.

A big difference.

I do not know the specifics but for the chromite I suspect to get one billion of dollars worth from the ground at least half that value has to be spent to get the finished product to market.

Hence I use a rule of thumb that it's value is no more than half of the chromite in the ground.

For comparison, Noront's nickel ore I guesstimate that about 80% comes out as clear profit, pre tax of course.

No do not take it to the bank, I am just roughly guessing.