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Article: India : Essel Mining eyeing overseas assets.
- Article from:
- TendersInfo
- Article date:
- November 10, 2008
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Byline: pinto03
Essel Mining and Industries Ltd, an Aditya Birla group outfit, is looking to acquire overseas mining assets during the current economic downturn. The Rs 3,000-crore ( USD 632 M ) company has eight million tonnes existing iron ore mining operations in Orissa in India and has recently expressed its interest to Coal India for development and operation of high-capacity underground mines.
The global meltdown in commodity prices has also brought down the mining asset value substantially. We expect such asset prices to rule at low levels for the next 12-18 months, Mr Ravi Kastia, group mining head and Managing Director of Essel Mining, said, ...