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NMDC seeks iron-ore mine in Canada to secure supply

MUMBAI - NMDC Ltd., India's biggest iron-ore producer, plans to buy a deposit in Canada in its first overseas venture, as it seeks to increase supply of the steelmaking raw material.

Published: Sat 16 Feb 2008, 9:28 AM

Updated: Sun 5 Apr 2015, 12:22 PM

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The deposit contains more than 1 billion tonnes of iron ore, Rana Som, chairman of the Hyderabad-based company, said in a telephone interview. He declined to give details as he expects to conclude talks in a couple of months.The deposit will increase supply for NMDC, majority-owned by the Indian government, as demand from India and China surges.