They are just shooting across each other's bows. One aspect that is undeniable is that Chavez is trying to micro manage a lot like Lyndon Johnson did during the Vietnam war. As a result everything was getting bogged down. There is a combination of shooting across the bow, micro managing etc.

There is far too much mineral wealth to leave it alone. The Chinese just loaned Chavez $4.5 billion for a new steel factory. They want the steel. There is huge amounts of copper in Las Brisas. The Chinese no doubt want that too. Step back a bit. They have loaned $4.5 billion. in light of Chavez' expropriation record, the Chinese must have some hellacious guarantees to cut him off at the knees if he does not perform.

Chavez appears srong only on paper. His approval ratings are at 39% if not lower and he is short of cash. This delay has to do with negotiations. this is a classic gambit.