india's nmdc plans to commission 3 iron ore mi

http://www.reuters.com/article/idUKBMA00708220100304
India's NMDC plans to commission 3 iron ore mines
Thu Mar 4, 2010 3:28am EST
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MUMBAI, March 4 (Reuters) - State-run Indian miner NMDC (NMDC.BO) expects to commission 3 iron ore mines in the next three years, Chairman and Managing Director Rana Som said on Thursday.

The mines in the central state of Chhattisgarh and Karnataka in the south would have an annual capacity of 24 million tonnes, he told reporters.

The miner is also in talks to acquire overseas mines for rock phosphate and potash, he said.

The government plans to offer to investors 332.24 million shares in NMDC, India's largest iron ore producer, as part of New Delhi's drive to sell stakes in 60 state-run firms over the next few years as it tries to raise funds for welfare programmes.

The follow-on offer will be open March 10-12. (Reporting by Prashant Mehra)