Catalyst Alert: India Globalization Capital, Inc. (NYSE MKT: IGC)
On October 21st 2013, IGC announced that it had commenced iron ore beneficiation operations at the first of its three plants in Inner Mongolia. The plant is located on an estimated reserve of two million tons with production potential of between 4,000-7,500 tons of high-grade ore per month. Demand for iron ore continues to be strong with current local prices in the $110-$115 per ton range for high-grade ore.
On September 9th 2013, Zacks Small Cap Research initiated on India Globalization Capital, Inc. the Zacks report can be found here.
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.