State-run miner NMDC is keenly looking forward to acquire a mining lease for a gold deposit in Tanzania soon. Out of three seams, the company has completed the exploration for one and further expects to get a mining license as soon as next week, with which it can activate its Tanzanian operations. However, NMDC will also have exploratory rights to other gold deposits once it completes its 50% acquisition of Australian firm Legacy Iron Ore, which should be completed in early December.
In comparison, however, NMDC does not find conditions in Afghanistan congenial enough for gold mining even as it has bid for iron ore reserves as part of a large Indian consortium. NMDC is part of the SAIL-led consortium that includes RINL and private firms, JSW Steel, JSW Ispat, Jindal Steel and Power and Monnet Ispat and Energy. The bid includes a 3-mtpa steel plant, for which coking coal can be sourced from deposits in Dar-i-Suf district. Afghanistan is offering new gold and copper deposits for bidding at the upcoming international mining conference in London.
Further, the Afghan Ministry Council is expected to deliberate on more than two preferred bidders to four blocks of the 1.8 billion Hajigak iron ore reserves this week. The other Indian bid is from Abhijeet Group's Corporate Ispat Alloys, and the two will be competing with rival bids from Canada, Iran and the US.
