Catalyst Corner wants to alert you to a new focus company:
India Globalization Capital, Inc. (NYSE MKT: IGC)
India Globalization Capital, Inc. (NYSE MKT: IGC) is based in Bethesda, Maryland and operates in the materials and infrastructure industry and supplies iron ore to India and China.
On September 9th 2013, Zacks Small Cap Research initiated on India Globalization Capital, Inc. the Zacks report can be found here.
IGC acquired Ironman, a company with operations in Inner Mongolia. IGC now has three beneficiation plants and four mine sites with iron ore reserves totaling approximately $500 million based on current iron ore pricing of $125 per ton. Inner Mongolia has extensive coal and iron ore deposits, positioning the region to become a steel production center.
CEO Ram Mukunda recently laid out fiscal 2014 goals for IGC:
Close and get operational the recently announced acquisition of a 25% ownership interest in an Inner Mongolian mine, with an estimated $200 million in reserves
Bolster IGC’s presence at the border of China and Mongolia and begin shipping ore from Mongolia based on the recently announced purchase agreement,
Have the Linxi mines and plants operating
Resume the iron ore trading operations in India as mines come back on line after the monsoon season
Continue to make accretive acquisitions that build IGC’s asset base
Further information can be found on the IGC website http://www.indiaglobalcap.com