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Anglo American Plc keen on Indian tie-ups in mining

(Press Trust of India)
Updated: 2008-11-07 11:04

Global mining major Anglo American Plc today said it is keen on roping in local players to forge joint ventures in India's mining sector, where the UK-based firm intends to be a long-term player.

"India certainly has the potential to be a global player in the mining sector. Our goal is to emerge as a long-term player here," Anglo American Plc Chief Strategy Officer Russell King told reporters here on the sidelines of a mining conference.

Anglo American, which started its business in 1917, has expertise in diamond, coal, copper, nickel, platinum, iron ore and zinc mining apart from industrial materials, in which it intends to divest.

The company, which has a presence in 45 countries, plans to invest $40 billion globally, but King declined to give details and said: "We will make sure that we spend our money wisely."The company is interested in coal and iron ore mining in the India as well as mining of zinc and copper, he said.

"We would like to forge a partnership with local players. Roping in local partners will help us," King said.

Anglo American is still confined to exploration activity in India and has been doing the job in 17 mines spread across Rajasthan and Andhra Pradesh since it entered the country in the late 90s.

Last year, Anglo American had opened a representative office in New Delhi.


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