MoneyWorks4Me

Monnet Ispat and Energy to buy majority stake in Colombia coal mine

19 Nov 2012 Evaluate

Monnet Ispat and Energy is planning to purchase a majority stake at a coal mine in Colombia to feed its steel plant in India. This mine is currently producing 50,000 tonnes of coal and estimated to have 25 mt reserves. It aims to seal the deal in a month. Monnet Ispat is scouting for coal assets overseas.

Monnet Ispat and Energy was incorporated on February 1, 1990. A Monnet group company, it is engaged in the business of sponge iron, steel ingot & billets and coal mining.

Peers
Company Name CMP
JSW Steel 1248.80
Tata Steel 182.85
Steel Authority 173.05
Jindal Stainless 730.75
APL Apollo Tubes 2116.50
View more..