Coromandel International Ltd, India’s leading phosphatic fertiliser player formalized the acquisition of 45% equity share in Baobab Mining and Chemicals Corporation (BMCC), a rock phosphate mining company based in Senegal.
Union Minister of Health and Family Welfare and Minister of Chemicals and Fertilizers, Dr. Mansukh Mandaviya presided over the event wherein officials from BMCC handed over the acceptance letter from the Government of Senegal to Coromandel.
Speaking on the occasion, the Union Minister stated that “India is strengthening its raw material supply security by investing in mineral rich geographies. The Government of India has been partnering with the industry to enable such investments to achieve supply security goals for meeting the country’s fertilizer needs.
He said “We are committed to ensure availability of fertilisers for our farmers and will continue to work towards ramping up domestic production and establishing partnerships with other countries”.