NMDC, country’s biggest iron ore producer which had acquired an additional 30% stake in Australian firm Legacy Iron Ore, is planning to commence mining there in one or two years. With the 30% additional stake in the Australian company, NMDC had acquired 48.8% stake in the Australian firm in 2011, its first overseas acquisition.
NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.
