Hard to see regardless of what happens that Wyloo would accept a minority or equal ownership arrangement with BHP.  BHP, seeing as they are a major iron ore producer, may suggest that they focus on the chromite operations con-current with Wyloo focusing on Eagles Nest.  There are huge Chromite deposits very close to Eagle's Nest(owned or co-owned by Noront) and there had been suggestions in the past (by KWG) that contruction of both mines at the same time using the same construction resouces could/should be considered.

BHP then would be a world leading producer, and perhaps the only one, who could supply both iron ore and chromite to the steel industry.  Lots of talk about nickel for batteries etc but unless I'm mistaken steel still makes up a substantial percentage  of products made.