sinosteel denies massive losses @ rio tinto jv, page-9

I doubt Sino will make a bid for MMX. It is more probable that Sino will be told by the Central govt to get out of this mess, and MIS sold to the highest bidder. Not bad if MMX can now get MIS for $100m. Recently, some other Chinese company made a mess of its foreign exchange positions, and was told to close its positions at a hugh loss. It can happen to Sino with MIS.