NMDC signs MoU with APMDC

National Mineral Development Corporation (NMDC) and Andhra Pradesh Mineral Development Corporation (APMDC) have signed an MoU to undertake exploration of low-grade iron ore and gold deposits in Andhra Pradesh. The mining exploration work is likely to be centred on the districts of Kadapa, Kurnool, Chittoor and Karimnagar. The exploration blocks are estimated to hold potential iron ore reserves of about 200 mn tonne valued at about Rs 40,000 crore. APMDC and NMDC will form a 50:50 joint venture company to explore iron ore deposits and gold as per the agreement terms. Contact: National Mineral Development Corporation. Tel: 040-2353 8713. Fax: 040-2353 8711. E-mail: hois@nmdc.co.in Website: www.nmdc.co.in