I think you miss the point that the big 3 are 3 separate...

I think you miss the point that the big 3 are 3 separate companies with competing interests and priorities and two of them are not in the business of running mines but purely investing in them.

If I was Blackrock why would I collude with the other two when I can hold out for more and vise versa?

I believe that AVB has a lot more to do to prove they can build run and expand this mine before anyone with any sense will be thinking of a takeover, but who knows.