PSU PRESS RELEASE
NMDC in talks to acquire stake in Vietnams tungsten mine
HYDERABAD. NMDC Ltd is in discussions with Vietnam-based Masan Resources to acquire a "considerable stake" in its Nui Phao polymetallic mine, sources close to the development said.
The mine, which has rich reserves of tungsten mineral, is located in Thai Nguyen province in Northern Vietnam. At present, India mostly imports tungsten for its domestic requirements due to high production cost of the metal.
"Recently a team from NMDC visited the plant and held initial discussions with Masan Resources. NMDC is interested in acquiring a considerable stake in the mine as Ministry of Defence has also expressed interest to buy the metal from NMDC. A decision will be arrived only after a due diligence," sources told DNA.
Read Also : GAIL organized 'Kanthasth 2.0' Hindi workshop
News Must Read
- REC Ltd received NOC to set up wholly owned subsidiary in Gift City, Gujarat
- Atanu Chakraborty Reappointed as part-time Chairman of HDFC Bank
- MRPL Q4 Results: Net profit slips 40%, Annual Gains Strong
- DMRC Celebrates 30th Foundation Day at Bharat Mandapam
- Sushil Sharma assumes additional charge of CMD, and Director (Personnel) of SJVN Limited
- Coal India Limited Board recommends final dividend, here to know
- Dr. Subhransu Sekhar Acharya assumes charge of NSIC CMD
- CIL reports mixed bag of results for Q4 of FY23-24
- NMDC's Promising Start to FY25, Targets 50 Million Tonnes
- RITES to take assessment for Vande Bharat Trains