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NMDC sets sights on African coal assets

Date: 09-09-2010

NMDC is in talks to buy 10% minority stake in Riversdale Mining, the Australian company that owns large coking coal assets in Mozambique. The company is also doing a due diligence for the Kolmar coal mines in Russia.

 

NMDC had recently tied up with Tata Steel to acquire mineral assets globally. The steelmaker already has a 35% stake in the Mozambique project. Tata Steel already has an association with Riversdale, having signed a $100 million agreement for a 35% stake in two coal tenements of the Australian mining company in Mozambique in 2007. crackcrack