India to Boost South African Imports of Gold, Coal, Gems, Metals
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MMTC Ltd., India’s largest state-run trading company, will boost imports of South African gold, coal, nickel and chrome after opening its first office in the country.
MMTC agreed with South Africa’s FirstRand Ltd. to buy 15 metric tons of gold for about $70 million in 2011 and may boost coal imports to about 15 million tons from 12 million tons last year, Marketing Director Ved Prakash said today. The company also plans to build a diamond-cutting factory in South Africa.