Be it for me to set the record straight but there are differences between known, suspected, possible and sheer hope.
If you listen to some of the media the 60 billion dollars in ground value for all ores in the Ring is only a possibility even though we here know that this value is based on drilling and a known, read documented, entity.

I suspect, mostly based on what portion of the Ring has not been touched by drilling or sampling, that the in ground value is likely to be three times the presently known, meaning about 200 billion dollars. That seems quite reasonable to me.
Now:
"Frank Smeenk said to the committee that there is possibly 600 BILLION dollars worth of chromite in the ground in the Ring of Fire. (yes, 600 billion)."

Ten times presently known, Wow. Yes that may eventually turn out to be so but I will not live long enough to see it ( am just recently retired). So I like to put that more in the Hoped For category.

Frank is a good pr guy and salesman. Good for him and us that he is part of the Ring. But such a statement is a waste of effort on our politicians and only fuels the fires of demands from the natives. I prefer that he did not say that.

Swords have two edges, one serves for you and the other against. Just some of my philosophy, Ed.