Nalco is Looking For Mostly Copper And Uranium Mines
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As part of NALCO's new policy of diversifying from a single commodity aluminium company to a multi-commodity corporation, the company is now looking for raw materials such as bauxite, coal, uranium and copper reserves outside India to run its diversified portfolio. It has zeroed in on three mining reserves How Cone Crusher Crush Granite. One each in Chile, Namibia and Indonesia. The company is considering floating special purpose vehicles in the countries concerned for acquisition.
In Chile, the firm identified a bauxite mine, in Namibia, a copper mine and in Indonesia, a coal block. For copper resources, the firm is looking to go jointly with Hindustan Copper Ltd. NALCO is looking for mostly copper and uranium mines in these countries as there is not much bauxite in these nations. The company has floated a global tender to engage a consultant to advise on acquisition of mineral assets that will be Cone Crusher Crush What Raw Material funded through debt and equity, possibly in the ratio of 2:1.
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On a positive note, Jha said the prime minister-constituted group of ministers, which has met twice, has agreed to raise the percentage of coal bearing forest which can be considered for mining, from an earlier cap of 52% to 71%. After some delays, Coal India's move to import coal is gathering some steam with likelihood of contracts being awarded to foreign suppliers in the next six months, Jha said. 'We had invited expression of interest (EoI) long back for having long-term coal off take agreement for a period of 10 years. Earlier we invited only mining companies but later we also invited global coal traders. We had received about 27 proposals and shortlisted some parties. Requests for proposal are being considered by our board. These parties will now give firm offers regarding the quantity of coal and at what price they want to supply. This process will take about six months,' Jha said.He expects exploration of two blocks that it bagged in Mozambique to begin within the next three months.