NMDC, state-owned iron ore miner, is planning to acquire stake in two coking coal firms from Mozambique and Russia. The company has also been looking for coking coal assets in the U.S and rock phosphate projects in Africa in order to increase its global footprint and diversify its portfolio from being an iron ore miner to a natural resources giant.
Out of two coking coal firms, Sol Mineracao Mozambique - the Mozambique firm has coking and thermal coal assets, having an exploration target of about 500 million tonnes, in Mutarara district of Tete Province in the African nation. The Russian firm is in Kuzbass basin in Kemerovo region of Russia and has 50 million tonnes of recoverable coking coal reserves. This firm’s reserves have an upside potential of additional 100 million tones.
