+
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

Naidu Seeks Rs 563 Crore For AP Sports Infrastructure

Andhra Pradesh Chief Minister N Chandrababu Naidu has sought Rs 563 crore from the Centre to boost sports infrastructure in the state, including Rs 538 crore for stadium development and Rs 25 crore to host the Khelo India Martial Arts Games 2025. Naidu made the request during a meeting with Union Youth Services and Sports Minister Mansukh Mandaviya in New Delhi on Wednesday.The CM urged early completion of Khelo India infrastructure projects in Tirupati, Rajahmundry, Kakinada, and Narasaraopeta, and called for an international-standard badminton training centre and a national aquatic sports hu..

Next Story
Infrastructure Transport

Tough Bidding Norms Slow NHAI Road Project Awards

Stringent bidding rules imposed by the Ministry of Road Transport & Highways (MoRTH) have led to a slowdown in project awards by the National Highways Authority of India (NHAI), despite a robust Rs 3.5 trillion pipeline. According to an HDFC Securities report, the shift to more cautious developer models now favours firms with strong balance sheets, as tighter qualification norms limit aggressive bidders.The revised norms mandate additional performance security, targeting the exclusion of players that previously submitted low bids—often 25 to 40 per cent below NHAI cost estimates—raisin..

Next Story
Infrastructure Transport

Mumbai Gets Coastal Nod for Next Promenade Phase

As Mumbai prepares to open two major sections of its expansive seafront promenade this week, the city’s civic authority has secured a key coastal clearance to advance further construction. The Maharashtra Coastal Zone Management Authority (MCZMA) has approved the commencement of work on the segment between Haji Ali and Baroda Palace, with tendering expected soon after project cost assessments.The promenade, stretching 7.5 km in length and 20 metres wide, is being designed as a flagship open space for walkers, joggers, and cyclists. Two critical stretches—2.75 km from Tata Garden to Haji Al..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?