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NMDC in talks for Greystone
Indian state-run iron ore miner NMDC is in talks to acquirea controlling stake in mining firm Greystone Mineracao do Brasil for $1bn (£626m), according to weekend reports. NMDC is currently doing a technical, financial and legal due diligence of the iron ore mines which have reserves of 260 million tons, the report said. The $1bn cost includes infrastucture development expenses.