Actually, one of the arguments they used to downplay the value of FWR was that there was enough chromite in the market as it was. Now Not & CLF both propose to set up smelters. I suppose the demand has grown, while other countries are restricting their exports.

I wonder if an unexpected bidder is about to step in? Korea, anyone? Japan? China is obvious, but they are competing with a couple of other fairly hefty industrialised economies in Asia who would not like to see all that chromite tied up by offtake agreements with eg Baosteel.