(RTTNews) - India's leading aluminium maker National Aluminium Co. Ltd., or NALCO, said it was planning to buy coal, copper and uranium mines in Namibia, as part of its diversification efforts into other miners and metals, say media reports.

Director, Finance, B.L. Bagra said presently the company was looking for coal, copper, uranium assets in mineral-rich Namibia.
The public sector navaratna firm wants to hedge against price volatility in its core business of aluminium and alumina by foraying into other metals and minerals. Last fiscal, the company's witnessed its bottom-line declined significantly, due to steep fall in the prices of aluminium in the midst of global financial meltdown.

NALCO is also holding discussions with the Nuclear Power Corporation of India to set up a nuclear power plant in Orissa. Uranium is a vital fuel for running such plants.

by RTT Staff Writer

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