India Globalization Capital, Inc. (NYSE MKT: IGC) operates as a materials and infrastructure company in India and China. The Company was incorporated in 2005 and is based in Bethesda, Maryland with offices in Mauritius, Nagpur, Cochin, Delhi and Bangalore. In India, we supply and trade iron ore, lease construction equipment, and, to a lesser extent, construct roads, highways and supply rock aggregate. In China we own and operate iron ore beneficiation plants and iron ore mines and supply iron ore to steel mills, specifically in Inner Mongolia. We also operate a shipping hub at the border of China and Mongolia. Our plan is to build a large portfolio of iron ore assets by consolidating, through acquisitions, the fragmented iron ore sector in mineral-rich Inner Mongolia and in neighboring parts of Mongolia. This plan includes acquiring interests, through a combination of stock and cash, both operational mines and mines that are past the exploration stage and close to obtaining a mining license. We have a unique and exciting opportunity and strategic positioning to build assets and create sustainable value for our shareholders.
IGC’s subsidiaries include IGC-India Mining & Trading, Private Limited (IGC-IMT) a company located in Chennai engaged in the export of iron ore to China, IGC Materials Private Limited. (IGC-MPL) a company located in Nagpur that operates rock quarries and provides construction material to the industry, Techni Bharathi Limited ("TBL"), a construction company located in Kerala, IGC Logistics, Private Limited (IGC-LPL) a company that provides supply-side logistics.
On July, 1, 2013, IGC acquired a 25% ownership stake in an operational mine in Inner Mongolia with an estimated $200 million in reserves. On July 8, 2013, IGC executed an iron ore sale and purchase agreement with Mon Resources to deliver 126,000 tons of 54% iron ore to the IGC hub on the Mongolia-China border. IGC's goals are to grow organically as well as acquire mining assets located in Mongolia.
IGC's thesis is that as the infrastructures of India and China are built out and modernized, the demand for basic raw materials, like iron ore used in the production of steel, is expected to increase. We offer an integrated set of services to our customers based upon several core competencies.
- A Sophisticated and integrated approach to bidding, modeling, costing, management, and monitoring of mining and construction projects.
- Knowledge, history, and ability to work in the iron ore sector in India, Inner Mongolia, and Mongolia.
- Knowledge of low-cost logistics for moving commodities across long distances in specific parts of India, Inner Mongolia, and Mongolia.
- Knowledge of the lincensing process for mines in INdia and Inner Mongolia and a growing understanding of licensing process in Mongolia.
- Strong relationships with several important construction companies and mine operators in southern and central India and Inner Mongolia, Mongolia, and strong relationships at the appropriate levels of government in India and Inner Mongolia.
- Acess to the sand ore in the hills of Inner Mongolia and ore in the hills of northern Mongolia.