SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

NMDC eyes US coal assets to ensure supply

24 Mar 2011 Evaluate

To ensure raw material security for its upcoming steel plants in Chhattisgarh and Karnataka, the state-run NMDC is looking at acquiring coking coal mines in the United States. The company is in talks with the promoters of some mid-sized coking coal mines in Pittsburg and Alabama in the US to do due diligence.

The first steel venture of the company 3 million tonne per annum capacity Chhattisgarh plant, being constructed at a cost of Rs 15,500 crore, is expected to be operational by 2014, while the construction work of the proposed 2 million tonne per annum steel plant in Karnataka is expected to begin in 2012. For the Karnataka plant, NMDC had inked a pact with Russia's leading steel maker OJSC Severstal in December last year to jointly set up a steel plant with an initial capacity of 2 million tonne per annum, expandable to 5 million tonne per annum later at an estimated cost of Rs 25,000 crore.

The company is also in talks with Tata Steel to ink an equal joint venture for setting up a 2 million tonne per annum steel plant at Bastar in Chhattisgarh. The company is close to buying two iron ore mines in Australia, while it is targeting three coking coal assets in Australia, Mozambique and Albania.crackcrack

NMDC Share Price

88.81 -0.97 (-1.08%)
20-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Coal India 441.65
NMDC 88.81
GMDC 691.40
Sandur Manganese 213.50
MOIL 321.05
View more..

About MoneyWorks4Me

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.

Our Vision

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.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×