I think you've intentionally neglected the resource which is massive and proven, so to be posting that they're just explorers is past history, also the necessary infrastructure rail and ports are most important to any IO venture and that's available. Then there's the ore itself which is what the demand will be and is,.. in order to make the Greenies happy.
For a season China has decided to cut production, but to maintain their national growth goals that would be unsustainable. So imo it will and must rebound in near time.
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