State-run NMDC on 6 June 2011 agreed to team up with Australia's Minemakers Ltd to develop a phosphate mine in Wonarah in northern Australia. India's largest iron ore miner’s decision to sign a memorandum of understanding with Minemakers is part of its strategy to focus on food and energy security by acquiring phosphate and coal mines. NMDC had signed an MoU with Nagarjuna Fertilisers for mining rock phosphate and potash in early 2011.
As part of the MoU, NMDC and Minemakers decided to undertake a joint feasibility study into development of the Wonarah deposit. After completing the feasibility study, NMDC proposed to acquire 50% equity in the project and participate in the development of the project.
This acquisition will provide NMDC an entry in Australia's largest known undeveloped phosphate deposit and contribute towards securing supplies of phosphate for the domestic fertiliser industry.
India currently imports roughly around 2.5 million tonnes of phosphate every year. NMDC's partnership with the Nagarjuna group envisaged developing a phosphate mine in Africa.
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