I suppose one possible outcome is that the QRN option will end...

I suppose one possible outcome is that the QRN option will end up dead in the water. AGO will piggy back on the FMG rail infrastructure with spur lines built to the FMG main line from their SE Pilbara tenaments.

FMG will continue (as we always knew) continue to deny a rail deal with BRM rendering Marillana and the other tenaments absolutely stranded with nowhere to go and BRM will be just a pile of dirt to the Chinese.

The Australian government doesn't need to infuriate the Chinese openly by blocking the BRM takeover (although this costs us big time), all that's needed is denying them rail and they are back to square one.