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NMDC today signed a Memorandum of Understanding (MoU) with a Zimbabwe government-owned company which would provide the domestic miner exclusivity for participation in mineral projects in the African nation.
“The designated organisation of Ministry of Tourism and Hospitality Industry, Zimbabwe has invited NMDC as a strategic partner to invest in exploration and development of the iron ore, coal, Gold and chrome tenements. This MoU will provide exclusivity to NMDC for participation in mineral projects at Zimbabwe,” NMDC said in a statement.
The MoU was signed by NMDC Executive Director (Business Development), Atul Bhatt and Mukahanana-Sangarwe, Chairperson of Mosi Oa Ynuya Development Company in presence of the NMDC board members.
“The signing of this MoU is a significant step towards ensuring augmentation of NMDC’s mineral reserves and globalisation of its operations,” NMDC Chairman, C S Verma said.
NMDC plans to develop mineral assets overseas to secure raw materials for the steel industry.
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