EMERGING iron ore miner NSL Consolidated has struck a $12 million deal with a large Indian company to expand its mining projects on the sub-continent.
Under the joint-venture agreement, Vijay Group will inject $12.2 million to expand NSL Consolidated's three iron ore projects in the province of Andhra Pradesh in India.
A Vijay subsidiary will take an initial 40 per cent interest in NSL Mining Resources, a subsidiary of NSL.
NSL managing director Cedric Goode said the company was in a unique position, with substantial growth potential in a country with strong growth fundamentals.
"NSL and Vijay are targeting the joint venture to be operating at an estimated 1.5 million tonnes per annum of saleable iron ore within two years, with potential to increase this target further in the next four to five years," Mr Goode said.
The joint venture will focus on the development and expansion of existing mining assets and pursuing growth such as future mine acquisitions.Perth-based NSL focuses on bulk commodity development opportunities through iron ore production in India and thermal coal in Queensland.
Mr Goode said Vijay Group's iron ore and coal mining contracting business had been operating at a 70 million tonne per annum rate in previous years.
During April to November 2012, the Indian steel industry achieved a growth rate of 5.36 per cent, the highest in the world.
Mr Goode is upbeat about the potential growth of the domestic Indian iron ore industry.
"The existing domestic production of approximately 74 million tonnes per annum is expected to grow to 200 million tonnes per annum by 2020," Mr Goode said.
NSL shares closed 0.4 cents, or 9.1 per cent, higher at 4.8 cents on Wednesday.
Anda sedang membaca artikel tentang
NSL strikes $12m Indian iron ore deal
Dengan url
http://mesinjahitan.blogspot.com/2013/03/nsl-strikes-12m-indian-iron-ore-deal.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
NSL strikes $12m Indian iron ore deal
namun jangan lupa untuk meletakkan link
NSL strikes $12m Indian iron ore deal
sebagai sumbernya
0 komentar:
Posting Komentar