just another article.., page-23

Hi Guys just saw another article that also mentions they are floating a subsidiary in australia , why would they o that if they where going to use lcy as the vehicle to purchase other assets ??
http://www.dnaindia.com/money/report_nmdc-set-to-buy-50pct-in-aussie-miner-legacy_1579377
this piece is just the bottom part of the article

NMDC is keen on using Legacy as a vehicle to acquire large-scale Australian bulk commodity projects such as coal and iron ore.

Legacy holds prospective iron ore tenements in both the central Yilgarn and Pilbara areas of western Australia.

All the projects are said to be located close to the established infrastructure area.

NMDC is floating a subsidiary in Australia to handle the deal and also look at other investment options.

Legacy has licences for two iron ore projects in Australia with an estimated reserve of over 130 million tonnes and is also into gold and manganese mining. It has also been working on making forays into coal mining.