"Boa Steel is already a major share holder in Noront and they had plenty of opportunity to invest in chromite but didn't put up one penny for the Cliff's claims"
Why is that?
"Their only near term interest is to get some business building a railroad at our expense."
Wrong, other chinese companies might but Baosteel got in before the issue of railway funding from abroad became an issue.

My answer is that they are in not to invest or fund but to assure a potential supply of ores for themselves.