"In the absence of formal advice from NMDC, ECT has formed the...

"In the absence of formal advice from NMDC, ECT has formed the reasonable opinion that NMDCwill not proceed with the project"
"ECT has made the subsequent decisions to rescind the previously offered MOU extension, andfurther to withdraw from the current MOU in its present form in order to pursue / focus on otherkey projects in India, Australia and other global jurisdictions."

When I read the above, it seems to me that NMDC is not totally out, as yet. They haven't agreed so ECT has withdrawn from the current MOU in it's present form.

Please tell me where it says NO. It seems to me to be an ongoing negotiation.
But this is how I read it. I'd be happy to read anyone else's objective (as opposed to emotional!) and constructive thoughts