Latest Newsletter from ECT - Formatted, page-2

Following the signing ceremony, the parties launched straight into the review of the draft sub-agreements which are progressing well and the parties are targeting completion by the end of July.


Meanwhile, our partners are as enthusiastic and supportive as ever, speaking bullishly about India's innate need to apply technologies like Coldry and Matmor as they seek to build their nation in coming decades.

Keep in mind that India is ramping up mining capacity, aiming to produce 100 million tonnes a year of iron ore. The issue? India's iron ore is relatively soft, producing 30% fines. Previously the Chinese bought the fines from India and upgraded them to feed their own steel plants. The Chinese have stopped buying due to changing economics. At present, there are an estimated 150 million tonnes of stockpiled fines in India. This stockpile will grow as mining increases.

This problem is significant for India. These fines are a sunk cost for the miners, an environmental burden that takes up valuable swathes of land