it's time, page-72

"Neither Hanlong nor Sundance have explained the reasons for the delay in approval by the Chinese regulator, known by its acronym of NDRC, but some observers have speculated the Chinese state remains unhappy with the acquisition of Sundance's Africa-based Mbalam project given that it is a privately owned company. Hanlong admitted at the end of last year that it had been asked by "relevant government agencies" to hold talks with state-owned steelmakers about forming a joint venture to develop the Mbalam project."


http://www.steelguru.com/raw_material_news/Sundance_takeover_uncertain_as_approval_eludes_Hanlong/300318.html