NMDC gets LoI for Bailadila iron ore mine in Chhattisgarh
COAL & MINING

NMDC gets LoI for Bailadila iron ore mine in Chhattisgarh

A joint venture of the National Mineral Development Corporation (NMDC) and the Chhattisgarh Mineral Development Corporation Limited (CMDC) has received a letter of intent (LoI) from the Mineral Resource Department, Government of Chhattisgarh for Bailadila iron ore mine, deposit-4, South Bastar, Dantewada district.

NMDC-CMDC is a joint venture wherein NMDC owns 51% stake and Chhattisgarh Mineral Development Corporation (CMDC) owns the 49% stake.

The LoI issued to the joint venture of NMDC is for iron ore mining across 646.596 hectares in the Dantewada forest division, Chhattisgarh.

Bailadila iron ore deposit-4 is located north of deposit-5 on the western side of the Bailadila range of hills, lying at a distance of about l35 km towards the Jagdalpur southwest. It is a large and homogeneous iron ore deposit having an onsite reserve of about 107 mt with an average grade of iron of 65.39%.

On September 30, 2019, the Ministry of Mines, Government of India gave its prior approval for the reservation of Bailadila iron ore deposit-4 in favour of NMDC-CMDC for prospecting and mining of iron ore.

Shares of NMDC dropped 3.22% to end at Rs 169.65 on the Bombay stock exchange (BSE) today after the Government of India launched an offer for sale (OFS) to sell up to 21.95 crore shares representing a 7.49% company stake. As of 31 March 2021, the GoI held a 68.29% stake in NMDC.

Presently NMDC is producing about 35 mt of iron ore from three fully-mechanised mines -- two located in Chhattisgarh and one in Karnataka.

Image Source


Also read: Environmentalists say TN losing several hillocks due to m-sand mining

Also read: India's Radhamadhav Marbles inks six mining agreements in Europe

A joint venture of the National Mineral Development Corporation (NMDC) and the Chhattisgarh Mineral Development Corporation Limited (CMDC) has received a letter of intent (LoI) from the Mineral Resource Department, Government of Chhattisgarh for Bailadila iron ore mine, deposit-4, South Bastar, Dantewada district. NMDC-CMDC is a joint venture wherein NMDC owns 51% stake and Chhattisgarh Mineral Development Corporation (CMDC) owns the 49% stake. The LoI issued to the joint venture of NMDC is for iron ore mining across 646.596 hectares in the Dantewada forest division, Chhattisgarh. Bailadila iron ore deposit-4 is located north of deposit-5 on the western side of the Bailadila range of hills, lying at a distance of about l35 km towards the Jagdalpur southwest. It is a large and homogeneous iron ore deposit having an onsite reserve of about 107 mt with an average grade of iron of 65.39%. On September 30, 2019, the Ministry of Mines, Government of India gave its prior approval for the reservation of Bailadila iron ore deposit-4 in favour of NMDC-CMDC for prospecting and mining of iron ore. Shares of NMDC dropped 3.22% to end at Rs 169.65 on the Bombay stock exchange (BSE) today after the Government of India launched an offer for sale (OFS) to sell up to 21.95 crore shares representing a 7.49% company stake. As of 31 March 2021, the GoI held a 68.29% stake in NMDC. Presently NMDC is producing about 35 mt of iron ore from three fully-mechanised mines -- two located in Chhattisgarh and one in Karnataka. Image Source Also read: Environmentalists say TN losing several hillocks due to m-sand mining Also read: India's Radhamadhav Marbles inks six mining agreements in Europe

Next Story
Infrastructure Urban

Larsen & Toubro Secures Contract from Defence Ministry

The Ministry of Defence, Government of India, has awarded a significant contract to Larsen & Toubro (L&T) for supplying K9 Vajra-T Artillery Platforms to the Indian Army. As per the company's project classification, the contract is valued between Rs 50 billion and Rs 100 billion. The K9 Vajra-T, a 155 mm, 52-calibre tracked self-propelled artillery platform, is an adaptation of the globally renowned South Korean K9 Thunder howitzer. It has been co-developed by L&T and Hanwha Aerospace to meet the Indian Army's specific operational needs across diverse terrains, including deserts, plains, and..

Next Story
Real Estate

Delhi-NCR Housing Market sees 25% Sales Growth

The Delhi-NCR property market has maintained its momentum during the December quarter, with housing sales and new supply estimated to grow by 25 per cent and 59 per cent, respectively, as reported by PropEquity. Data from the real estate analytics firm suggests that housing sales in Delhi-NCR are likely to rise to 12,915 units during the October-December period of this year, compared to 10,354 units in the corresponding period of the previous year. New supply in the region is expected to increase significantly, reaching 11,223 units, a 59 per cent rise from 7,072 units in the year-ago quarter..

Next Story
Infrastructure Urban

DDC Approves Five Key Projects Under Kasaragod Development Package

The District Development Committee (DDC) has approved a budget of Rs 100.08 million for five key projects under the Kasaragod Development Package. This funding is part of the Rs 700 million allocated in the State budget for the 2024-25 financial year, with administrative approval formally amended to incorporate these initiatives. The decision was made during a meeting chaired by District Collector K. Inbasekar on Saturday, December 21. The approved projects include Rs 40.99 million for constructing Udayapuram Thungal Road in Kottom Belur grama panchayat and Rs 20.56 million for setting up a ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000