NMDC, India's largest iron ore producer, has agreed in-principle to acquire majority stake in Brazilian iron ore firm, Amplus, with an investment of $150 million for development. The company would initially invest around $10-15 million to acquire 26% holding and buy up to 50% of stake subsequently. Amplus mine is located around 150 km close to the coast with reserves of over 1.5 billion tonne.
Last August, NMDC acquired 50% stake in Australia based Legacy Iron Ore for about $100 million. It floated a subsidiary in Australia to handle the deal and also look at other investment options. Further, the company is currently mulling to acquire three overseas coal mines, one each in Russia, Mozambique and Australia, a rock-phosphate mine in Australia and an iron ore mine in Brazil.
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.
| Company Name | CMP |
|---|---|
| Coal India | 429.45 |
| NMDC | 84.88 |
| GMDC | 589.85 |
| Sandur Manganese | 203.50 |
| MOIL | 273.95 |
| View more.. | |
Start Research-backed Investing ...Now. Subscribe to Sapphire
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: