NMDC May Buy Mines

July 8, 2010

NMDC may buy four coking coal mines controlled by billionaire Mikhail Prokhorov, securing raw material supplies for two planned steel mills in India.

Talks to buy the Kolmar mines, which have reserves of about 400 million metric tons in the Sakha republic, are likely to be completed by December, NMDC Finance Director Swaminathan Thiagarajan said Wednesday, without giving price details.

(Bloomberg)

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