whats gone wrong??????, page-8

Slips - Bloody Opera!! Indian Foreign Investment Promotion Board (FIPB) recently rejected an application by Austpac Resources NL to set up a pilot plant to process ilmenite, on the basis that production of synthetic rutile from a rare earth metal is not value addition. The FIPB has been asked by a parliamentary panel to review this ruling on the grounds that a JV between Austpac and Indian Rare Earths Limited (IRE) would enhance the competitive capability of IRE. Source: Indian Business Insight 05/03/2003