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NMDC sets sights on African coal assets

09 Sep 2010 Evaluate

NMDC is in talks to buy 10% minority stake in Riversdale Mining, the Australian company that owns large coking coal assets in Mozambique. The company is also doing a due diligence for the Kolmar coal mines in Russia.

 

NMDC had recently tied up with Tata Steel to acquire mineral assets globally. The steelmaker already has a 35% stake in the Mozambique project. Tata Steel already has an association with Riversdale, having signed a $100 million agreement for a 35% stake in two coal tenements of the Australian mining company in Mozambique in 2007. crackcrack
Peers
Company Name CMP
Coal India 403.40
NMDC 67.60
Ashapura Minechem 432.15
Sandur Manganese 163.00
GMDC 439.75
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