Ann: Presentation - Africa Down Under Conference , page-8

re: Ann: Presentation - Africa Down Under Con... But the Chinese want to own a bigger percentage of the iron ore they import. This is not the time to bail out, surely. I've already been the victim of the Chinese not stumping up the money once (a high grade gold mine that only needed $200m, and that had 2.7m oz in reserves as well as a vast number of resources, and which was to be a low cost producer).

What seems to have put them off was the host country not approving the financing deal: the unelected 'elite' in the host country weren't satisfied with what they would personally make out of the deal.

Iron is different. The Chinese need it, so they should bid otherwise all their slagging off of Rio, BHP, etc. will look silly if they turn down opportunities like this.