NMDC in race to acquire US coal mine

State-run NMDC, which plans to set up steel plants in India, is close to acquiring a US-based coal mine, media reports today indicated.

The company is in talks with the promoters of midsized coking coal mines in Pittsburg and Alabama to do due diligence prior to making an offer.

The miner is keen to secure coal for its captive needs as it gets set to build steel plants in Chhattisgarh and Karnataka respectively.

The stock of NMDC was down 0.23% today during afternoon trade on the Bombay Stock Exchange (BSE). It is currently hovering at Rs 282.10 per share.