NMDC keen on stake in Canadian co Potash's projects

NMDC Ltd. | Mining & Minerals | Metals & Mining | BSE: 526371 | NSE: NMDC

06 Sep 2010 Evaluate

NMDC is considering a proposal to invest for a small stake in Potash One’s Legacy mining project in Canada. The company is holding talks with a South African fertiliser company to buy 30% of a rock-phosphate mine in Zimbabwe as part of a plan to expand into fertilisers.

Potash and rock phosphate will be required in higher quantities as India aims to achieve food security. India, which buys all of its potash requirement from overseas, may use 4.6 million metric tonnes of the soil nutrient in this year.

NMDC formed a venture with South Africa’s Kopano Ke Malta Investment to enter coal and iron-ore mining in South Africa. Kopano NMDC Mineral will be equally held and will prospect for reserves and also seek stake in existing government and non-state mines.crack crack

Peers

Company Name	CMP
Coal India	425.60
NMDC	82.45
Ashapura Minechem	542.60
Sandur Manganese	190.35
GMDC	575.20
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