Thanks Sunny -excellent composition/research-  I had missed that

Baja Mexico might make more sense for a Bao Steel plant if enough ore in Baja, since the crossing from Baja is only 1/2 the distance to China as Brazil is,and there are no steel plants nearby- though there are no railroads in Baja S of the USA/Mex border

I know Brazil, a pushy govt as far as Vale is concerned- w all the troubles Vale has w the govt- has been pushing Vale to get into the steel business but Vale has not wanted to compete w those its supplying iron to- so the deal w Bao would help Vale solve those problems

Now that Navial- w its huge concessions -controls CWRN- there could be room for a deal re a steel plant, plus a beneficiation plant- part of whose purposes would have been to reduce shipping costs also