China Inc is after 50% minimum IMO.
That means Mitsubishi and MMX both have to sell down. Unless MMX sells up it's entire 50% direct and indirect stake (unlikely). I think it wants 20% for itself.
All the ore goes to China.
Karara is 50% Chinese owned.
Sino is 100% Chinese owned.
All of MMX's offtakers are Chinese.
barnetts confirms chinese participation , page-19
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