JHEP will go ahead definitly simply because it is the single largest deposit in the Mid-West and Mid-West is strategically important China resource security.
Either, MMX goes ahead with Mitsubishi or the Chinese will acquire the mine. Perhaps with OPR divested, the FIRB will now be happy to allow Sino to buy out MMX.
The Chinese will develop mid-west to counter any supply disruption in the future. They want the ownership of mines and infrastructure.
The simple equation is that the Midwest has too much ore (the open cut magnetite deposits still infinitely better and more economical than low grade IO ore in Chinese underground mines) and can supply theie needs for several decades.
That's why OPR ownership is so important (why Sino pull the stunt). Without control of infrastructure, tehy have no control over anything.
MMX Price at posting:
75.0¢ Sentiment: Buy Disclosure: Held
