National Mineral Development Corporation (NMDC) on Friday said that it signed a pact with Zimbabwe-based Mosi Oa Tunya Development Company (MOTDC) to jointly explore mineral projects in Zimbabwe.
According to NMDC, the strategic partnership with MOTDC under the administrative control of Ministry of Tourism and Hospitality industry, Government of Zimbabwe and NMDC enables both companies to invest in the exploration and development of iron ore, coal, gold and chrome tenements.
“The signing of the MoU today is a significant step towards ensuring augmentation of NMDC’s mineral reserves and globalisation of its operations,” said CS Verma, CMD, NMDC.
NMDC plans to develop mineral assets overseas to secure raw materials for the steel industry and the designated organization of the ministry of tourism and hospitality industry.
The MoU was signed by NMDC executive director (Business Development) Atul Bhatt, and MOTDC chairperson Mukakhanana Sanganrwe.