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NMDC to acquire majority stake in Brazilian iron ore firm

13 Mar 2012 Evaluate

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.

NMDC Share Price

84.88 0.50 (0.59%)
10-Jul-2026 16:59 View Price Chart
Peers
Company Name CMP
Coal India 429.45
NMDC 84.88
GMDC 589.85
Sandur Manganese 203.50
MOIL 273.95
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