That is true, some of the consortium partners did put in a...

That is true, some of the consortium partners did put in a significant amount of money. Something like USD1.5B if I recall correctly. That was based on a USD10B project...which has since become a MegaProject.

As to why these studies have been kicked off in rapid succession...I would say there's a firm deadline for completion...and if the funding isn't available, then the project dissolves...or is taken over by the next big Chinese player in the queue.

The proper funding is the main obstacle I think. Baowu didn't commit funds, they instead committed to Simandou.