A consortium of NMDC, Saudi Arabia's ABS Consulting and Australia based
Boulder Steel, have submitted a non-binding bid worth $230 million (approx Rs
1,046.5 crore) to buy 70 per cent stake in Ridley mines at Pardoo, owned by
Australia based Atlas Iron.
According to sources, NMDC is likely to have 15 per cent stake in the mine,
while Boulder Steel will pick up five per cent share holding, whereas ABS
Consulting is to have 55 per cent equity of the mining project. The mine is
estimated to have a reserve of about two billion tonne.
Also See:
NMDC
plans second steel plant in Karnataka (6-March-10)