State-owned miner NMDC will seal deals to acquire two iron ore assets in Australia next month. The company would spend less than $100 million to acquire 51 per cent stake in the two mines. The company has also identified four more iron ore and coal mine assets for acquisition in Australia, Mozambique and Albania.
It is re-evaluating its agreement of 2008 with global mining company Rio Tinto for jointly developing iron ore mines in Orissa and Tamil Nadu, besides Australia, Brazil and Africa. There has been no progress on this front in the last two years. NMDC expects iron ore prices to rise in the next financial year due to decrease in supply from Australia, which has been hit by floods. Prices are supposed to go up due to pressure on supply while there would be a likely recovery as far as the steel markets in America, Europe and Japan are concerned,crackcrack
| Company Name | CMP |
|---|---|
| Coal India | 438.70 |
| NMDC | 89.78 |
| GMDC | 733.40 |
| Sandur Manganese | 218.35 |
| MOIL | 327.60 |
| View more.. | |
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: