Thanks for asking. Here, some of my reasons:

Everybody wins:

Baosteel gets a secure supply Offtake agreements.... (to possible buyout) of chromite/ferochrome +Ni for its steel ;

NOT gets early revenues from Cliff's Cr offtake of Cr to jump fund its mine financing;

Reduces and possibly avoids entirely a future NOT share dilution/PP;

NOT reduces size of its financing at likely a lower % borrowing rate due to riskless market sales revenues at an earlier mine production date;

Also

Samsung can buy specialty steel for windmills built in ONT/Thunderbay; utilize Sudbury Ni smelters and new center of excellenc mining traing; etc etc

BAOsteel wants guaranteed resource supply, not 100% ownnership of companies; this ownership arrangement fits with umbrella agreements just signed during recent Harper China visit; protects from foreign ownwersip while creating jobs;

Both NOT and Cliffs are seen as cooperating/partnering with ON and Feds in return for their infastructure contibutions;

Cliffs gets a halo effect from NOT'S FN cooperation and leadership; early-ups its' FN negotiating success;

Cliff's eliminates a Cr/ferrochrme price competitor (NOT);avoids a Cr supply glut/price war; secures both price leadership and stability; gets 2-3 year+ headstart on CR mineing-likely removing advent of a NA competitior(s);

NOT gets money to finance/secure PRB and FNC chrome ... which is good for both PRB and FNC shareholders, and enables funding for PRB to become PRBgold and FNC to become FNC/CHM coal.

BAOsteel and Cliffs jointly acguire FNC/CHM to futher vertical integrate the NOT/CLF/BAOsteel JV steelmaking conglomerate; Vanadium counts in this too;

All of the above creates thousands of skill jobs for Northern Ontario/Canadafed making both Fed and ON government tax revenues and basis for cooperationphoto-ops to compliment their respective job creating in forthcoming budgets;

The in-place FED/ONT pledges to harmonize/spead-up the EA/timeline Permiting underpines the "Roads Underway" build activity described earlier;

Pending NR announcements by NOT/PRB/FNC and already-acknowledged NOT(BAO)/Cliffs/ONT/Feds negotiations in the next 4-8 weeks point to early start road build activity

Peter