India's Lloyds Metal and Energy limited (LMEL) has listed shares in Virtus Lloyds Resources FZCO, a subsidiary in Dubai, to expand its international presence, the company said in a statement on Thursday, February 19.
Virtus Lloyds Resources FZCO has been registered in the Dubai Multi Commodities Center Zone, United Arab Emirates, the company said in a statement.
The newly listed company will focus on investment and trading in metals and mining activities. The main goal is to expand the business of Lloyds Metals and Energy limited in the United Arab Emirates, in particular in the Multi Commodities Center area in Dubai. In addition, the subsidiary is committed to facilitating strategic partnerships with metals and minerals developers in the United States.
The Company will focus on establishing partnerships with U.S. metals and minerals developers, indicating LMEL's intent to expand its global presence and enter new markets in the metals and mining industry.
LMEL is involved in iron and steel mining ore, direct reduced iron (DRI) production and power generation, operating three verticals of sponge iron, mining and power generation in Maharashtra.
