Previous Koolyanobbing owners Cleveland-Cliffs will also receive a $5 million royalty rebate, while an operating subsidy will be given to Southern Ports. Cleveland-Cliffs had initially declared in March it would shut down Koolyanobbing by July 1. However, MinRes revealed it had acquired the project in June in a decision which spared about 120 feared job losses at the Esperance Port, where the mine's iron ore is exported.