Chinese officials seem to be apprehensive about the pricing power of the behemoth supplier of iron ore that would be created if BHP consumes/merges with Rio Tinto. I expect them to encourage PRC steel mills to develop alternate sources, which (with US$ weakness) would seem to put PLL's still uncommitted future production in a sweet spot (if PLL's output is significant enough for them to bother with).

PLL management has deemed it unnecessary to inform investors much about the fizzled discussions with Shougang or other prospects they may be developing. I've held for years and can see the value proposition in PLL right up to the sales process, where a disconnect in either execution or communication seems to be taking place.