India’s NMDC is to join forces with ABS Consulting of Saudi Arabia and Boulder Steel of Australia to make a $230 million bid for a stake in the Ridley iron ore project in Western Australia.
A non-binding offer has been made to the project’s owner, Atlas Iron Ltd, for a 70 percent stage, according to India’s Economic Times newspaper. Atlas said in January that it wants to sell a stake in the project and had lined up candidates from China, India, Korea and Japan.
NMDC said last year that it has been looking at buying iron ore assets outside India.
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