OREANDA-NEWS. NMDC signed the Memorandum of Understanding with  MOSI OA TUNYA  DEVELOPMENT COMPANY  of Zimbabwe under the administrative control of  Ministry of Tourism  and Hospitality Industry, Government of Zimbabwe.  The MoU  was signed by Shri Atul Bhatt, Executive Director (Business Development)  on behalf  of NMDC and  Ms.  Mukahanana-Sangarwe, Chairperson on behalf of  MOSI OA  TUNYA DEVELOPMENT COMPANY in presence of the Board Members of NMDC.

NMDC plans to  develop mineral assets overseas to secure raw materials for the  steel industry. The designated organization of the Ministry of Tourism and  Hospitality Industry, Government of Zimbabwe has invited NMDC as a  strategic pa rtner to invest in the exploration and development of the iron  ore, coal, Gold and chrome tenements.  This MoU will provide exclusivity to  NMDC for participation in mineral projects at Zimbabwe.

Commenting on the occasion, Mr. C.S. Verma, CMD, NMDC said “The signing of  this MoU today is a significant step towards ensuring augmentation of NMDC’s  mineral reserves and globalization of its operations.”