announcemnt out 9.15, page-24

from LCY thread , even though similar posts have been put up , its the value of deal should be noted:http://dealcurry.com/20110825-NMDC-Buys-50-in-Legacy-Iron-Ore.htm
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NMDC Buys 50% in Legacy Iron Ore
by Irfan Khan | August 25,2011 - 12:02 PM

Topics : Mergers & Acquisitions
Industries : Energy / Utilities

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NMDC is acquiring a 50% stake in Australia based Legacy Iron Ore for about $100 Mn. NMDC is floating a subsidiary in Australia to handle the deal and also look at other investment options.

According to Legacy, the stake sale would enable the Australian miner unlock and monetise the value inherent at Mt Bevan and gain from a large cash infusion.Mt Bevan offers low-strip ratios, coarse grind size, low silica and an average concentrate grade of 69.8% iron content.