ann out asic and asx this is serious, page-60

If, and it is mighty big if, the money is there Colin Barnett will have little option but to run with it. The reason he has given for delays is that finance is not available.
Secondary to that there will be a clause in any agreement that the finance is conditional on the users (miners) have been signed up. That will be the sticking point as the Chinese (sinosteel) put a stop to the previous attempt by pulling out claiming tariffs were to high. Whilst they can always do that again it may well ruffle some feathers as far as FIRB and foreign ownership is concerned.