NMDC may buy stake in Indonesian coal mine

NEW DELHI: State-owned NMDC NSE -0.84 % is considering a stake in an Indonesian thermal coal mine owned by Renuka Coalindo, an acquisition aimed at expanding the profile of the minerals producer that has been focused mainly on iron ore and coking coal.

onfirming the development, two directors of NMDC told ET on the condition of anonymity that the company was evaluating PT Renuka Coalindo Tbk, listed on the Indonesian stock exchange, which operates a 1.2 mt coal mine in the Jambi province of Sumatra. The company is a subsidiary of Renuka Energy Resource Holdings, an associate of Renuka Sugars NSE -0.50 %, with mineral concessions in Columbia and Brazil as well.

“Such a proposal did come to us and the subcommittee has asked for a tech ..

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