"Can anyone explain why China and Hugo are dragging their feet?"

For me, the only explanation is that we have needed the OK of people near the top of the heap in each of Vennie and PRC. Compared to all the other political bumph that occupies their days, our deal is almost insignificant - hence getting it signed at the top is not a priority to the people who have to do the signing.

Plus, our deal is probably part of a larger resource deal, and therefore a bunch of other stars and moons have to align before our piece of paper gets signed, along with 150 others.