India Resources gets a break

After years battling the Indian regulatory system, India Resources may be on the verge of unlocking its giant Aravalli lead zinc project after being registered with the Project Monitoring Group (PMG) in India.
The PMG is a mechanism set up by the Indian government to fast track large strategic projects worth in excess of A$180m.
Having recently underwritten its immediate future by securing an extension of its Surda underground mining contract in India until 2017, the mining contractor turned explorer is now well placed to create value from the potentially $10b Aravalli project.
Shares in India Resources recently doubled after news that its Aravelli project would be registered with the PMG.