Very interesting. So Tata and NML are in the process of bringing in additional partners for the Labmag/Kemag project. What does it mean? The massive capex numbers in the interim feasibility study recently delivered may be too much for Tata to handle. Especially with the recent economic turmoil in Europe and recent quarterly losses by Tata. The prudent path is for Tata to share the risk and the financing responsibilities with another steelmaker as a third equity partner.
See how Arcelormittal, Tata's main competitor from India, has sold partial interests in Baffinland and Mont Wright in order to raise cash and share risk.