By its JV International Coal Ventures
NMDC announced that International Coal Ventures (ICVL), a joint venture Company of NMDC, Steel Authority of India, Coal India, Rashtriya Ispat Nigam and NTPC has signed an agreement with Rio Tinto Plc., UK. for acquisition of 2.6 billion tonnes coal resource in Mozambique.The coal reserves will become a long term captive source of critical raw material in steel making in geographical proximity to India. The coal mine and assets are located strategically in the prime coking coal bearing region of the Moatize Coal Basin which is slated to be the second largest coal basin in the world after the Bowen Basin in Australia.
The operating coal mine comes with a state of art wash plant and surface infrastructure with a potential to expand raw coal production from the current 5 million tonnes per annum (Mtpa) to 12 Mtpa.
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