Australian co drops NMDC from JV to develop reserves

New Delhi In a setback to government-owned NMDC’s efforts to acquire assets abroad, Australian firm Minemakers has dropped the iron ore miner as its potential joint venture (JV) partner for developing the Wonarah rock phosphate reserves in Australia.

Blaming “NMDC’s inability to make a timely decision” in forging a partnership, Minemakers said that “it can no longer prolong discussions with NMDC” which have remained inconclusive so far.