NMDC signs MoU for mineral assets development in Zimbabwe

India's state-owned miner National Mineral Development Corporation (NMDC) has announced that it has signed a memorandum of understanding (MoU) with Mosi Oa Tunya Development Company of Zimbabwe, within the scope of plans to develop mineral assets overseas to secure raw materials for the steel industry.
 
According to NMDC, the government of Zimbabwe invited the Indian miner as a strategic partner to invest in the exploration and development of the iron ore, coal, gold and chrome tenements. This MoU will provide exclusivity to NMDC for participation in mineral projects in Zimbabwe.