Far East | Materials, extraction

Indian NDMC to buy $400m coal mines in Yakutia for $400m

9 Jul '10
Indian mining company NDMC intends to purchase four coal mines in the Republic of Yakutia from the owner Kolmar, Kommersant reports.

The deal price has yet to be disclosed, but is estimated by experts at $400m.

Kolmar owns Erel mine with annual capacity of 450,000 tons of coal, coal firm Neryungriugol, which owns Denisovskaya mine with annual capacity of 750,000 tons of coal, and Dezhnevskaya mine.

Under plans, NDMC intends to supply coal to its two steel casting factories in India, both under construction.

Total coal reserves at Kolmars mines are estimated at 400 million tons of charcoal.
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Tags: India (26) / coal (202) / mine (166) / NDMC (0) / Kolmar (0) /

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