some points to keep in mind

Baosteel/CITIC/Sinosteel are all Chinese Government controlled entities, so any directive from their major shareholder is turn financially supported from Chinese Government controlled banks - real question is will they, not at current position of their economy and weakening steel sector.

OPR/Mitsubishi have development rights to port and rail, Barnett is trying to get CITIC involved as a JV partner with Mitsubishi, did not work last time he went to China and came back saying so.

Clive Palmer does not have the finance in place to develop a coal mine in Queensland, and at current coal prices will not get it, in any event he needed a JV partner, no bank in OZ would go near it. Comments made he is involved with this is very far fetched indeed

PDY - bought what they termed 'IP' from failed bidder Yilgarn Infrastructure who lost out to OPR, too long ago to be worth anything other than a road map.

As I posted the other day my guess is PDY are trying to prevent Barnett offering the OPR rights to China and thus sending JDY's 'IP' to worthless category if not already there. If this was kosher why was PDY not included on China trip with 600 others?

If any deal was to proceed surely Barnett, Sinosteel, Mitsubishi would have been contacted to see if they were still interested, build it and they will come does not hold water for this type of project. Remember reason OPR failed was lack of of tonnage agreements from proposed mines and at a rate that was required to justify the investment, people are forgetting it has to stack up financially before any commitment to proceed.

PDY announced last week:'Oakajee Funding Secured'
This week: 'proposed shareholders' agreement which would assist the Company in securing the funding necessary to construct port and rail at Oakajee'. Already backing away before further details are announced, there is a huge difference between these releases.

At current IO price along with energy, water and remote location issues not to mention grades, Mid West IO is not worth much and does not warrant development unless we see another IO boom which IMHO is unlikely, like what we see in coal market today - boom times are over.