NMDC signs MoU with Zimbabwe company

This MoU will provide exclusivity to NMDC for participation in mineral projects in Zimbabwe

State-run firm NMDC has signed a Memorandum of Understanding (MoU) with Mosi Oa Tunya Developent Company of Zimbabwe for participation in mineral projects.

This MoU will provide exclusivity to NMDC for participation in mineral projects at Zimbabwe.

The MoU was signed by Atul Bhatt, Executive Director (Business Development) on behalf of NMDC and Mukahanana Sangarwe, Chairperson on behalf of Mosi Oa Tunya Development Company

NMDC plans to develop mineral assets overseas to secure raw materials for the steel industry. MOSI, an organisation, ministry of tourism and hospitality hndustry, Government of Zimbabwe has invited NMDC as a strategic partner to invest in the exploration and development of the iron ore, coal, gold and chrome tenements.

C S Verma, CMD, NMDC said “The signing of MoU is a significant step towards ensuring augmentation of NMDC’s mineral reserves and globalization of its operations.”