some basic info, page-17

I think that you need to also remember the respective Governments have an option to take another 10% of the subsidiaries, and the SDL presentations mention this fact having to do with the Mining Codes of the countries.

Taking 35% of such a large project without providing the equivalent CAPEX would mean the project would probably never get up and running. The countries would love the equity in the subsidiaries but they also have to be internationally competitive so as to attract investment.