Indian group plans to buy coal mines in Mozambique and South Africa

10 September 2010

Calcutta, India, 10 Sept – Indian state group the National Mineral Development Corporation (NMDC) plans to acquire mines in Mozambique and in South Africa, the chief executive of the group, Rana Som said Thursday in Calcutta.

“We have a partnership with Tata Steel for the joint acquisition of foreign assets and as they are already in Mozambique we want to partners them in order to buy coal assets in the country,” said Som, on the sidelines of a seminar organised by the India Industrial Confederation.

“In South Africa we have converted a memorandum of understanding into a partnership with Kopano Ke Matla Investment Company, and the new company will be called Kopano-MNBC Mineral Ltd,” he said.

Som also mentioned that his group was trying to acquire a 10 percent stake in Australian company Riversdale Mining, in association with Tata Steel for the exploration of coal mines in Mozambique. (macauhub)