my understanding ( & i could be wrong ) is with IO mining there...

my understanding ( & i could be wrong ) is with IO mining there is none, it can be 100% owned but the approval process is different and obviously alot of red tap involved. the point is BHP & RIO haven't done it yet so why so much confidence about NSL and then compare it to AXO which is in Australia. Even De Beers are in a diamond joint venture.
Also, a 100% foreign entity application for a mining lease is based on its track record in mining and it's financial position. Again, compare NSL to others trying to get into the Indian market and just think the possibility of taking a joint partner needs to be considered when doing any calcs.


" The Indian Government has recently announced a series of far-reaching measures to promote foreign investment in the mining sector:



Foreign equity upto 50 per cent is automatically approved in three categories of mining project, which have been termed 'high priority':
* Mining of iron ore;
* Mining of manganese, bauzite, copper, lead and zinc ores; and
* Mining of rock aggregates, sand and clays, minerals for construction fertilisers and chemical minerals; ceramics, refractory and glass minerals; salt; mica; and other non-metallic minerals.


Foreign equity upto 74 per cent is automatically approved for mining-related services such as drilling, shafting, reclamation of mines, surveys/mapping (excluding services related to gold, silver and precious and semi-precious stones).


For activities not covered by automatic approval (primarily gold, silver, diamond and precious stones), the foreign investor needs to apply to the Foreign Investment Promotion Board(FIPB). The FIPB will consider the application based on parameters like project size, commitment of external resources for funding project costs, the company's mining tract record and financial strength, level of technology sought to be employed in the project, and the Indian partner's equity holding.


Wholly-owned holding companies may be permitted subject to the condition that it receives prior FIPB approval for foreign equity holding in excess of 50 per cent in any joint venture it wishes to enter into for investment in mining.


In case of captive mining, the equity approved for the main plant will be allowed for the captive mine. This can be more than 50 per cent. "