The government will approve NMDC 's acquisition of 50 per cent stake in Australia's Legacy Iron Ore at the next meeting of the Cabinet later this week, The state-owned iron ore miner has already announced acquisition of 50 per cent equity in Legacy Iron Ore, a listed entity in the Australian Stock Exchange, for AUD 18.9 million (Rs 108.31 crore at current exchange rates) This is the first acquisition by NMDC, which aims to raise its iron ore production capacity to 48 million tonnes per annum (mtpa) by 2014-15 from current installed capacity of 32 mtpa.
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