This week, Cliffs Natural Resources Inc. indicated that it could divest its huge chromites deposit in the Ring of Fire valued as much as $50-billion during the commodity boom and is in talks with KWG Resources Inc. (TSXV:KWG). "We should expect there will be a change, with a sale of the project one of the potential outcomes," Bill Boor, Cliffs' Executive Vice-President of corporate development said. "We have discussed the transaction.

We are busy lining up the money and we are almost there," KWG's Chief Executive Officer Frank Smeenk. He added: "Lourenco and I have talked a couple times. He has confirmed that he would like to sell and we would like to buy."