This news article leaves questions unanswered in my opinion.The...

This news article leaves questions unanswered in my opinion.
The author states:

"it (NMDC) was in the process of obtaining necessary clearances from the Union fertilisers ministry."

Then:

"NK Nanda, NMDC's director (technical ) who is responsible for overseas acquisitions , said the company's overseas transaction adviser presented the Minemakers' case as unprofitable"

Firstly, clearances for what? Suggests the Indians couldn't get their Sh!t together and Lawrenson was correct in making his announcement.
Secondly we have a quote from the highly unreliable and demoted Mr Nanda. (He will be an asset to the LCY board).

As for the comments from the LCY holders about NMDC walking months ago are they referring to walking from MAK or AGO of perhaps LCY?
No sign of that line of credit. No sign of the touted acquisitions. LCY SP says NMDC aren't adding much value.

If NMDC has walked from MAK then that will be the second phosphate project that they have failed to complete on. Third time lucky perhaps.

The subsidies scheme in conjunction with food security does raise the question of how much profit is necessary. NMDC is essentially a sovereign mining company. What is it trying to achieve?

Lawrenson is clearly a different CEO to Drummond. Drummond is a geologist who failed at the financial side of the business, Lawrenson is already talking a different language. He would appear more capable of putting together a deal.
I think AD will move on to TNT and get back to exploration.