HomeBase MetalsAnother India/SA mining possibility on the table

Another India/SA mining possibility on the table

Black Rock
manganese mine in the
Northern Cape
Mumbai, India — MININGREVIEW.COM — 15 December 2010 – Another potential mining deal between South Africa and India has come to the fore with the news that the Indian steel ministry is in discussions with the South African government on the possibility of buying manganese ore mining assets for state-run Manganese Ore India Limited.

Reuters reports from here that an Indian government official confirmed that the talks were underway. “We are talking to the government of South Africa. We have requested them to allot us certain mines, and we are looking at it aggressively,” said joint secretary in the Ministry of Steel Dalip Singh.

He added that no further details on the proposed transaction were available at this stage.

It was reported from here yesterday that International Coal Ventures “’ a consortium of five Indian state-run companies including Steel Authority of India and Coal India “’ may bid for Australian-based and listed Riversdale Mining Limited, which is focused on coal in Mozambique and South Africa.

Riversdale had no immediate comment on the report.

Earlier this month, mining giant Rio Tinto made a US$3.5 billion (R24 billion) bid approach for Riversdale, setting up a potential takeover battle, but then told Riversdale it was not in a position to make a bid. “Bidding for Riversdale is beyond our personal capacity and authorised limits,” the Business Standard quoted NMDC chairman Rana Som as saying.