plan b

I think the reality is we have done our dough on this business plan eg exporting ore to China. The properties owned are small and low grade, NSL can't seem to get anymore properties lined up. There seem to be structural operational issues which really hamper mining and getting the ore to port and market. But most significantly, the political mood in India eg Kartanaka, and Orissa is to limit the export of iron ore eg bans, taxes, endless bureacracy, in preference to their own steel indutries. If you look at current steel production in India and project where it could be in 5-10 years, domestic consumption of ore will cannabalise current export volumes and more eg India to become a net importer. A number of forecasters are now predicting this eg India no longer supplying to seaborne trade market. The Chinese I think see this and are going soft on a deal. Reality bites and it sucks sometimes, but better to face it. So I'd not be asking Cedric about benification or shipments but what's plan B, coz I don't see Plan A working. NSL's gone from dental anti snoring aids, to indian iron ore exporter, maybe third time lucky...