NMDC Ltd, along with Saudi Arabia's ABS Consulting and Australia-based Boulder Steel, has submitted a $230 million non-binding bid to purchase 70 per cent stake in an Australian mine owned by Atlas Iron.

NMDC will take 10 per cent stake in the mine, possibly the Ridley mines at Pardoo, while Boulder Steel will pick up five per cent share holding, whereas ABS Consulting will have 55 per cent equity of the mining project, which has an estimated reserve of about two billion tonne.

The company is understood to be eyeing six overseas properties, including UK-based Ferrous Group's Brazilian mines and the Australian mines.