India's state-owned mineral producer National Mineral Development Corporation (NMDC) is in the process of acquiring five more mines abroad after striking a deal to acquire 50 percent of Australia's Legacy Iron Ore, local news reported Friday.
According to NMDC Chairman and Managing Director Rana Som, the company, which is the largest iron ore miner in India, will be acquiring a coking coal mine in the US and Russia, along with an iron ore mine in Brazil and two other mines in Australia (iron ore and rock phosphate).
Som explained that NMDC's goal is to grow both vertically and horizontally, by setting up steel plants as well as acquiring mines.