impossible for ndrc to approve the $6b loan, page-18

China might be able to source IO internally, but at what price. Talking to a friend back from Beijing last month who suggested this is the key issue for them, as even allowing for shipping they are way off the opex levels of OS suppliers with not many producing profitably under $140/t. But China is a riddle wrapped in an enigma when it comes to concrete information, so who knows.

The OS supplies are critical going forward IMO.

Agree re above posts about Hanlong; Chinese companies are hard to separate from the single 'controlling entity' back in Beijing.