opr sinosteel, page-26

sino pullout makes sense in the high stakes for chinese to control oakajee.

sino pull out (short term bluff or long term realism ?? ) severely cripples the port viability for opr.

with out oakajee mmx cant get of the ground, 500km of trucking ore over dirt roads to a small allotment at geraldton is not an option so it will be forced to play by the chinese rules.

even if oakejee gets built mmx dfs for its risky deposit is very shaky given that long term ore prices will stabalize at lower levels.

meanwhile GBG has the upper hand at geraldton for 16mtpa and they say that they are still committed to oakajee for 30mtpa but in what form does that mean?

so how will oakajee be viable with out mmx and sino which leaves only the biggest player gbg and a few other small miners to pay the port charges ??

and what financier will stump up $7b to build a port to support only one major iron ore (GBG) shipper??

so what does it really mean when GBG say that they are still committed to building oakajee ??

imo they would say that if ansteel were planning to upgrade production up more and to think about a pellet plant and mini steel mill.

the chinese investment juggernaut will roll on until firb says no more !!