With a view to expand its diversification plan to establish itself a global metal and mining giant, public sector Aluminum major, NALCO is planning to enter into merchant mining in sectors like iron ore and coal, a senior official of the company said.
“Mining has been out core competence for us. However, given today’s market conditions, if you are in the metal sector, for surviving in market you should have a strong mining portfolio. Keeping this in view, we are planning to enter into merchant mining sector. Incidentally, the Indian government has come up with a policy where the e-auction makers can also have facility of merchant mining. So, we would also like to avail the policy frame-work”, said Mr. Tapan Kumar Chand , CMD NALCO.
He has informed that NALCO would like to enter into merchant mining in iron ore and coal etc. However, at the same time, he has made it clear that the company would not go for merchant bauxite mining.
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