NMDC in talks to acquire stake in Vietnam's tungsten mine

State-owned iron ore miner NMDC Ltd is in discussions with Vietnam-based Masan Resources to acquire a "considerable stake" in its Nui Phao polymetallic mine, sources close to the development said.

The mine, which has rich reserves of tungsten mineral, is located in Thai Nguyen province in Northern Vietnam. At present, India mostly imports tungsten for its domestic requirements due to high production cost of the metal.

"Recently a team from NMDC visited the plant and held initial discussions with Masan Resources. NMDC is interested in acquiring a considerable stake in the mine as Ministry of Defence has also expressed interest to buy the metal from NMDC. A decision will be arrived only after a due diligence," sources told

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