Maputo, Mozambique — 21 September 2012 – State Indian group NMDC has started talks with two companies “’ one from Mozambique and the other from Russia “’  in an effort to acquire coal assets in the two countries, according to the group’s annual report and accounts for the 2011/2012 financial year, cited by the Economic Times.

Macauhub News Agency reports from here that in the Mozambican case, the company is Sol Mineração Mozambique, which has a prospecting licence for an area in the Mutarara district of Tete province, with estimated reserves of 500Mtof coking coal and thermal coal.

“The prospecting activities have been concluded and the company is soon expected to receive its mining licence,” the group’s acting chairman C S Verma said in the report.

The Russian company, whose name was not given, has a licence for the Kuzbass, basin in the Kemerovo region, which has around 50Mt of coking coal and additional potential of 100Mt.

In 2011 the group acquired Australian company Legacy Iron Ore and a few months ago it signed an agreement with Brazilian company Amplus Mineração to invest in iron ore mining in Brazil

Source: Macauhub News Agency. For more information, click here.