Found this very interesting interview with Rana Som, Chairman of NMDC (21 Dec 2010 Indian Business Standard):
Q What is the status of the acquisitions that NMDC was eyeing? A We are working very hard on the acquisitions.
Q Are you bidding for Kolmar coking coal deposits? A We have started technical due diligence. We will complete technical and financial due diligence by January and then put in a bid.
Q What about Atlas iron ore, where you were part of a consortium? A For Atlas, we will leverage our mining expertise and collaborate with the management.
Q Does it mean that you are now vying for management control in the assets? Q Obviously we want management control, but that can be forgone if we have a definite offtake agreement.
Put these comments in the context of the GIR takeover and what would does this mean ? I think I know, do you !!
AGO Price at posting:
$2.92 Sentiment: Hold Disclosure: Held