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Monday, August 8, 2011

MINING: Andhra Pradesh netas on ore hunt in SA!


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August 8, 2011 / By Ch. V.M. Krishna Rao, DC, Hyderabad.

Our politicians and industrialists are now eyeing the mineral wealth of Africa, specifically that of the West and Central Africa countries which have some of the world’s largest unexploited deposits of iron, coal and other minerals.

Our politicians and industrialists are now eyeing the mineral wealth of Africa, specifically that of the West and Central Africa countries which have some of the world’s largest unexploited deposits of iron, coal and other minerals.

They are tying up with big companies like BHP Billiton, Rio Tinto, Chinalco, Tata and Vale, who are already exploring for iron ore in and around the Sahara desert.

The former Congress minister, Mr J.C. Diwakar Reddy, recently picked up shares in a multinational mining company based in London and his firm also shipped a giant drilling machine from Hyderabad to Africa.

Similarly, Mr Y.S. Dushyanth Reddy, a close relative of YSR, is currently involved in coal mining contracts there. It’s not only these ministers, but also around 50 politicians and contractors, like Midwest Granites, are involved in the mining industry in Africa.


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