Deals
NMDC May Pay $300 Million for Mozambique, Russian Coal Mines
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NMDC Ltd., India’s largest iron ore producer, plans to acquire two coking coal mines in Mozambique and Russia for about $300 million to feed its planned steel plants in India.
Talks are on to acquire a mine with 360 million metric tons of deposits in Mozambique’s Tete province and an 80 million-ton mine in Russia’s Kemorovo region, Chairman Narendra Kumar Nanda said today in a phone interview. The company is also considering buying an iron ore and manganese mine in Brazil’s Amapa province, he said, without elaborating.