[miningmx.com] — STATE-run Indian iron ore miner NMDC may bid independently for a stake in Africa-focused Riversdale Mining, ruling out any possibility of partnering with Tata Steel , the Times of India said on Saturday, quoting agencies.
Earlier this week, miner Rio Tinto made a $3.5bn bid approach for Riversdale, in which Tata Steel owns about 24%.
Media reports speculated Tata Steel may partner NMDC for acquiring Riversdale after Rio Tinto’s $3.5bn bid.
“We are not talking to Tata Steel on this issue. That will be done independently, not in association with Tata Steel,” the newspaper quoted NMDC chairperson Rana Som as saying.
“There is no question of partnering with Tata Steel.”
NMDC had earlier expressed an interest in buying a 10% stake in Riversdale, the paper said.
NMDC officials were not immediately available for a comment.
