India's state-owned miner NMDC Ltd will acquire a majority stake in Kudremukh Iron Ore Co Ltd (KIOCL), federal steel minister Virbhadra Singh said on Wednesday.
"This partnership acquisition will ensure a continuous supply of iron ore to KIOCL from NMDC," he told reporters at a press conference.
KIOCL will also acquire a stake in NMDC, he said.
Source: Reuters
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