Say it failed to make good on promises, including one related to the miner's growth
NMDC's sole foreign acquisition has hit a roadblock. A few shareholders in Australian company Legacy Iron Ore, acquired by NMDC in 2011, have sent it a notice, asking it to either fulfill the promises made during the acquisition, or leave. Speaking to Business Standard, a source close to the development said shareholders with at least 10 per cent stake in Legacy Iron Ore have threatened they would seek an extraordinary general meeting to vote out the three NMDC representatives from the Legacy Iron board.
Technology Partners: MimirTech
Links:
[1] http://admin.indiaenvironmentportal.org.in/news/oz-miner-investors-threaten-nmdc-ouster-board
[2] http://admin.indiaenvironmentportal.org.in/category/author/shubhashish
[3] http://admin.indiaenvironmentportal.org.in/category/newspaper/business-standard-new-delhi
[4] http://admin.indiaenvironmentportal.org.in/category/thesaurus/australia
[5] http://admin.indiaenvironmentportal.org.in/category/thesaurus/mining
[6] http://admin.indiaenvironmentportal.org.in/category/thesaurus/national-mineral-development-corporation-nmdc
[7] http://admin.indiaenvironmentportal.org.in/category/thesaurus/mineral-based-indsutry
[8] http://admin.indiaenvironmentportal.org.in/category/thesaurus/iron
[9] http://admin.indiaenvironmentportal.org.in/category/thesaurus/minerals
