just forgot to mention, NMDc is desperetely looking for iron ore because they have so many long term contracts with Indian steel companies and Indian infrastructure development will not have any impact of gfc2...Indian suporeme court banned ire mining in state because of environment issue and thats why NMDC started looking overseas for ore partnetship and they choosen lcy...
NMDC is state owned company...more you can research by yourself...
bloodbath today on the asx., page-38
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