India’s RINL, MOIL and NMDC seek to acquire iron ore assets in Brazil

Wednesday, 26 December 2012 14:37:41 (GMT+3)   |   Istanbul
       

Three Indian state-run steelmaking and mining companies Rashtriya Ispat Nigam Limited (RINL), National Mineral Development Corporation (NMDC) and MOIL are seeking to acquire iron ore assets in Brazil, according to media reports.

All three companies are committed to have presence in mineral-rich Brazil, either by buying a stake in a company operating a mine or buying a mine to develop an iron ore project. NMDC has already started due diligence in a couple of mines in the Amapa province.

NMDC is increasing its capacity to 48 million mt in the financial year 2014-15 from the current installed capacity of 32 million mt per year. While MOIL targets ore production of 2.2 million mt per year by 2020 against the current level of 1,071,000 mt, RINL will ramp up its steelmaking capacity to 6.3 million mt per year from 3 million mt per year.


Similar articles

Iron ore prices drop by over $9//mt week on week, mood remains bad

28 Mar | Scrap & Raw Materials

Goa government to ease policy for liquidating iron ore dumps lying on private land

28 Mar | Steel News

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

Brazilian high-grade iron ore price declines sharply in two days

27 Mar | Scrap & Raw Materials

Daily iron ore prices CFR China - March 27, 2024

27 Mar | Scrap & Raw Materials

India’s JSPL takes operational charge of iron ore complex in Venezuela

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

Vale selected to begin award negotiations for US briquette plant

26 Mar | Steel News

Daily iron ore prices CFR China - March 26, 2024

26 Mar | Scrap & Raw Materials