Pen,

I'm going to try to do this while no_bear is sleeping so that he doesn't get all grumpy that somebody is trying to shed some positives behind his back.. so hope your still awake when I post this because it will be gone in the morning.

Just for some thoughts on this.. This deal was being struck in 2008-2009 timeframe between CRRC and an Australian mining company. My first thought is that since it has been long known that the iron-ore pricing structure was going to be shifted from a yearly contract to a quarterly one when it came to export to China. This year Vale, Rio Tinto, BHP Billiton changed a 50+ yr. old pricing structure enfuriating the Chinese to the point of boycotting the big 3 iron-ore producers... two of which, you guessed it, BHP and Rio are from Australia.. China's largest supplier.

Here is a good article on the subject:

http://news.bbc.co.uk/2/hi/business/8610752.stm

I surmise that this deal that MOM mentions also fell through in an attempt for China to diversify away from a trade partner that was going to gouge them ruthlesslessly on a necessary commodity that they absolutely need for their economy.

Here is another article about how China has been looking for alternative sources of iron-ore abroad since that time frame.

http://www.chinastakes.com/2010/1/chinese-tycoon-emerges-to-grab-chilean-iron-ore-mine.html

Hope you get this soon.. and I tried ;)