Good to see the media starting to grasp what is about to happen...

Good to see the media starting to grasp what is about to happen here with a major partnership between ECT, NLC and NMDC. Just the beginning of a monster partnership that will see Coldry/Matmor move into its commercial development pathway. So the Indians want to take all the financial risk now by putting up 35 mill Aus $. Why would they take such a risk being the biggest ever R&D project between Aus and India. 35 mill risk now to get a bigger slice of the future pie in India and globally. No brainer here ESI’s day is coming and a signed deal is just the beginning of a long fruitful partnership with 2 Indian govt majors.

https://m.economictimes.com/industr...usd-26-mn-rd-project/articleshow/64243533.cms



NMDC, NLC to ink pact with Aussie ECT for USD 26 mn R&D project
By PTI | May 20, 2018, 12.35 PM IST

• NLC India Limited (formerly Neyveli Lignite Corporation) may invest over USD 26 million for setting up an R&D facility for developing innovative technologies in iron and steel making.
  
  Senior executives of NMDC Limited and NLC India Limited are expected to visit Australia to sign a joint R&D agreement with Environmental Clean TechnologiesLimited (ECT), an Australian company expert in commercialising leading-edge coal and iron-making technologies, sources close to the development said.
  Who owns Fortis’s Singapore trust?
  "NMDC has a Board meeting on May 28. A final decision will be taken with regard to the signing of MoU with ECT."
  
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  "A Special Purpose Vehicle (SPV) will be created upon completion of the R&D phase of the project, with ECT 49 per cent, NLC 25.5 per cent and NMDC 25.5 per cent stakes,"sources told PTI.
  
  Following successful phase one R&D outcomes, the agreement provides the framework to proceed with a commercial-scale integrated steel-making facility by the SPV, sources added.
  
  According to a regulatory filing by the Aussie firm in Australian Securities Exchange, the NLC and NMDC will sign the Master Project Agreement (MPA) with ECT to establish world's first Australian-designed Coldry and Matmor plant in Tamil Nadu.
  
  It is aimed at diversifying the use of lignite (brown coal) in the generation of electricity and production of steel at lower cost with significantly lower CO2 emissions.
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  "Innovative Australian-developed technologies aimed at lower cost, lower emission iron and steel production utilising lower grade or waste iron ore and low-rank coal resources MPA to be signed in Canberra ( Australian capital) in the presence of available Minister(s) and Indian dignitaries...
  
  "Indian partners (NMDC and NLC) to contribute 100 per cent of the project funds AUD35m ( approximately over USD 26.29 million)," the filing said highlighting the key points.
  
  "The parties have previously contemplated the potential scope for the commercial phase via the techno-economic feasibility study completed in July 2016, which includes a notional capacity of 500,000 tonnes per annum steel output and an estimated AUD300 million capital investment.
  
  The site for the R&D plant has been chosen to allow room for expansion into a commercial-scale facility," the Australian company said.
  
  India is the perfect place to develop our technologies and the country's national iron ore and lignite miners, NMDC and NLC, are ideal partners, ECT Chairman, Glenn Fozardsaid.
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  Matmor and Coldry process is used in iron ore purification.