Micky appreciate your comments but - Don't think CP ripped the...

Micky appreciate your comments but - Don't think CP ripped the Chinese off. Very hard to do given they drive such a hard bargain (on everything).

What they did do though is stuff up the Citic project - they thought it would be easier than it was and they could import their own cheap labour (paying chinese rates). They also forgot about or underestimated scarce resources and prices for materials in WA where hundreds of projects are competing for staff / materials / trucks etc.

Whether they like it or not the Chinese have sunk so much money into Citic (too big to fail?) they have their national pride on the line and are in it for the long haul. For them it must succeed.

A big iorn ore tenemant just next door to where they have invested Billions in processing infrastructure would have to be of interest. Just more negotiation on price.......hard for Clive to run an auction process with only one bidder (hence the Indians and Russians),designed to increase pricing tension. He didn't make his millions (or questionable billions) from being stupid....watch this space.