NMDC consortium to buy Aussie mine

NMDC Ltd, along with Saudi Arabia's ABS Consulting and Australia-based Boulder Steel, plans to buy 70 per cent stake in an Australian mine owned by Atlas Iron, for $ 230 mn. NMDC will take 10 per cent stake in the mine, while Boulder Steel will pick up 5 per cent share holding and ABS Consulting will have 55 per cent equity. The mining project has an estimated reserve of about 2 bn tonne. Contact: NMDC. Tel: 040-2353 8713. Fax: 040-2353 8711. E-mail: hois@nmdc.co.in Website: www.nmdc.co.in