The National Mineral Development Corporation (NMDC) is expecting iron ore prices to gain up to 50 per cent by April. "The rise would be in alignment with the international market," V K Jain, director (production), NMDC, said on Tuesday. | |
| "We anticipate the international price for iron ore to increase by 40-50 per cent by April this year," Jain added. |
| |
| Price hikes in the international markets are determined mainly by Australian, Brazilian and Japanese iron ore positions, he added. |
| |
| Jain said NMDC, which has a cash reserve of Rs 6,000 crore, is eyeing acquisitions of iron ore mines in Canada and West Africa. He added that the company was also mulling acquisitions in Australia. |
| |
| "In Australia, we are looking at both coal and iron ore mines for acquisitions," Jain said. |
| |
|
| |
