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Indian Metals & Ferro acquires 70% stake in an Indonesian coal mine

18 Jul 2011 Evaluate

Indian Metals & Ferro Alloys has acquired a 70% stake in an Indonesian coal mine for $8.75 million through its step-down subsidiary incorporated in Singapore. It is not possible to quantify the total reserves at the moment as a detailed assessment is yet to be carried out along with a study of the infrastructure development required to sustain operations and the estimated investment in this regard.

The company is primarily involved in the production of ferro alloys including charge-chrome (high-carbon ferro-chrome), and has an installed furnace capacity of 157 MVA in its two units in Therubali and Choudwar2 districts of Orissa. The company’s operations are supported by a 108 MW captive thermal power plant (at Choudwar) and captive chromite mines.

Indian Metal & Ferro Share Price

1566.85 14.30 (0.92%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Indian Metal & Ferro 1566.85
Maithan Alloys 1036.10
Nava 704.50
Indsil Hydro Power 41.30
Shyam Century 5.61
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