Was looking for a similar JV to compare to, and the most recent was the FMG and BC Iron deal.
In that deal, FMG took half of BC Iron's asset which had about 100Mt of haematite for nothing.
All they brought to the deal was the rail network to get the ore to port.
FMG took half of the deposit, and FMG have no itention of adding new projects into BC Iron or increasing the value of BC Iron
LCY at least has taken $18m from NMDC and still has its project to develop, whilst NMDC will be keen to develop more projects through legacy.
In my eyes, a far better deal.
similar jv
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