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ICICI Securities Report
Seeking for allocation of new mines and to increase volumes is the way forward for NMDC Ltd.
The premium on allocation of mines to state or central public sector undertakings is the new policy normal.
Under such a scenario, NMDC can benefit through aggressive scouting and acquisition of new mines within the country.
NMDC, along with Odisha Mining Corporation Ltd. (OMC), may be best placed to be allocated operable iron ore mines in Odisha, as the dynamics of the present auction becomes clearer to state authorities.
There may not be a better time to look into the prospects of Mt. Bevan (Legacy) iron ore mines in Australia, which the company acquired in CY11 to reduce the regulatory risks arising from a single country operation.
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