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NMDC to arrange loan facilities for Australian subsidiary

23 Aug 2013 Evaluate

NMDC is likely to arrange loan facilities for Australian $3 million through lenders and decided not to invest in the rights issue of its Australian subsidiary, Legacy Iron Ore. The company has taken this decision after considering the current conversion rate, which is A$1 = Rs 58. Participation in the rights issue would have resulted into an approximate outgo of Rs 7.25 crore.

NMDC, India's top ore miner, accounts for about 15 per cent of iron ore mined in the country, with annual production capacity of 30 million tonnes.

NMDC Share Price

89.78 2.60 (2.98%)
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Company Name CMP
Coal India 438.70
NMDC 89.78
GMDC 733.40
Sandur Manganese 218.35
MOIL 327.60
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