I think this relates to the status of HCL's mining lease (and many other mining leases around India). They have to be renewed (after 20 years or so?) and the typical Indian bureaucracy probably means the renewal is mired in paperwork. This despite the fact that Surda has been mined since 1956 (IRL prospectus). These jokers are in grave danger of letting India run out of coal supplies to generate power in the next week or so, so this particular issue probably isn't of much concern over there.
I would think that IRL should be able to apply for compensation. Of course getting any compensation will be horrendously difficult, like everything else over there.
IRL Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
