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NMDC acquires 50% equity stake in Australia based Legacy Iron Ore

18 Jan 2012 Evaluate

NMDC, India’s largest iron ore producer and exporter, has acquired 50% equity stake in Perth based Australian iron ore, gold and base metals exploration company, Legacy Iron Ore (Legacy), for a consideration of A$18.89 million with intent of furthering its strategic interests in the natural resources sector globally.

Further to the share subscription agreement between the companies on October 20, 2011, both the companies have completed various conditions as per the agreement and all necessary regulatory and shareholders’ approvals have been obtained. NMDC will fund the acquisition through internal accruals.

Legacy is primarily an iron ore exploration company that is based in Western Australia, and is developing the Mt Bevan Iron Ore Project, which has the potential to develop into one of the largest resources of iron ore in the Central Yilgarn region in Western Australia.

NMDC Share Price

89.78 2.60 (2.98%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Coal India 438.70
NMDC 89.78
GMDC 733.40
Sandur Manganese 218.35
MOIL 327.60
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