Date:05/07/2006 URL: http://www.thehindu.com/2006/07/05/stories/2006070502921603.htm

Business - Briefly

MOIL signs MoU with Samancor

HYDERABAD: Manganese Ore (India) Limited (MOIL) and Samancor Manganese (Samancor) have signed a memorandum of understanding recently for strategic alliance in relation to cooperation in manganese ore and alloys. The aim of the alliance partners is to exploit the complementary technical qualities of manganese ores and their respective distribution channels, enabling them to better support the rapidly growing Indian steel industry. Detailed agreements will be reached upon successful completion of the feasibility and due diligence studies, according to a release. Samancor is 60 per cent owned by BHP Billiton and 40 per cent by Anglo American.