I don't see the immediate future of this deal as an either/or. I believe that if the JV/permit stuff has not been completed by, say, February 2011, then KRY would be able to file for arbitration, while continuing to be involved in the JV stuff.

Is it certain that filing for arbitration means that KRY can no longer be involved in the JV?

Within the legal business, when one is facing a reticent opponent, filing and serving a claim generally brings them to the negotiation table; it tends to sharpen the opponent's focus, as they say.