As part of its efforts to shore up mineral reserves, NMDC Ltd has signed a memorandum of understanding with Mosi Oa Tunya Development Company of Zimbabwe which would facilitate its participation in mineral projects in that country.

The MoU was signed by Atul Bhatt, Executive Director (Business Development), NMDC, and Mukahanana-Sangarwe, Chairperson on behalf of the Zimbabwe company. 

The company said that it is planning to develop mineral assets abroad with a view to getting raw material for the steel industry and the MoU would offer it “exclusivity’’ to participate in mineral projects at Zimbabwe. 

C.S. Verma, CMD, NMDC, said the MoU would help ensure “augmentation of NMDC’s mineral reserves and globalisation of its operations’’.