Mercator Lines

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Mercator Group (NSE: MLL-EQ; BSE: 26235) is an Indian Shipping Corporation with diversified interests in Transportation, Dredging, Oil and Gas, Ship Management services, Marine Logistics and Offshore services. Mercator Lines Ltd is the parent company and is the second largest private sector shipping company in India. It has recently forayed into the Offshore business with its subsidiaries Mercator Oil and Gas Ltd and Mercator Offshore Ltd.

The company was started by H K Mittal.

Mercator Lines will spent Rs 4,000 crore in the next two years to expand its fleet of ships.[1]

[edit] Mozambique gold mine

In early 2008, the company's overseas arm, Mercator Lines Singapore Limited, was awarded a coal block in Mozambique. It turned out to be a gold mine with an estimated reserve of 3 billion tonnes of gold.[2] Mercator owns 85% economic interest in the mine and it has a 30-year mining lease. The mining will begin in 2010, and the company will pay $1 per tonne royalty to the Government of Mozambique.

[edit] References

  1. ^ Mercator to invest Rs 4,000 cr
  2. ^ Mercator Lines sitting on 3-bn tonne of coal reserves

[edit] External links

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