State-owned NMDC is examining two proposals for acquiring coal mines in the African country. The entity has entered into an agreement with South Africa's Kopano, investment arm of South Africa's biggest trade union federation four year ago, for exploring mineral assets.
The company’s one proposal for acquiring coal mines is now under due diligence, the coal miner is set to participate in bidding process for the other asset. However, the company is not planning to acquire more than 50 per cent in any of the foreign assets. It is also aiming to acquire and develop mineral prospects for steel making raw material such as Iron and Manganese Ores.
