Sesa Goa keen to acquire stake in Brazilian mine |
By e4p Correspondent, Wednesday, April 22, 2009, 17:24 Hrs [IST] |  |
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Category: Non-Ferruos (Aluminium, Copper) | Tags: Sesa Goa stake Brazilian mine, GME4, iron ore exporter india | Share:  |
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Sesa Goa, an iron ore exporter, is likely to bid for a controlling stake in an iron ore mine that has been put on the block by Brazil's mining exploration company GME4. The mine is jointly owned by geologist Joao Carlos Cavalcanti of GME4 and Banco Opportunity.
GME4 is expected to invite global bidding shortly to sell the majority stake in the mine which is located in the north-eastern state of Piaui in Brazil. The proposed mine which is worth $2.4 billion (approx Rs 11,760 crore) has reserves of 800 million tonne.
Source : ProjectsToday
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