ridley project may go to nmdc

According to the indicative bid, state-owned NMDC will take 15 per cent stake in the mine, possibly the Ridley mines at Pardoo, while Boulder Steel will pick up five per cent share holding whereas ABS Consulting will have 55 per cent equity of the mining project, which has an estimated reserves of about 2 billion tonnes.

Although the company has submitted the indicative bid, the acquisition may not be an easier one as a Chinese firm is understood to be rivaling its bid.

"Chinese people are also trying very high for it, that is why NMDC consortium has given a non-binding bid. Going forward, documents would be prepared, before a binding bid is given," the source said.


http://economictimes.indiatimes.com/news/news-by-industry/indl-goods-/-svs/metals-mining/NMDC-consortium-pitches-for-230-mn-buyout-of-Aussie-mine/articleshow/5653659.cms