NMDC gets LoI for Bailadila iron ore mine in Chhattisgarh

08 Jul 2021 CW Team

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

Infrastructure Transport

11 May 2026

Shivraj Chouhan Launches PMGSY IV and Announces Package for Madhya Pradesh

Union Minister Shivraj Singh Chouhan launched the Pradhan Mantri Gram Sadak Yojana (PMGSY) IV at Bhairunda in Sehore district during the 25 year celebrations and announced a development package for Madhya Pradesh. The programme was organised by the Union Ministry of Rural Development and attended by Chief Minister Dr Mohan Yadav, ministers of state, state ministers, legislators and senior officials from the centre and the state. The minister said the central government under the Prime Minister is committed to strengthening rural livelihoods through improved connectivity, housing and women's in..

DMR Engineering Reports FY 25-26 Financial Results

DMR Engineering reported its half year results for the financial year ended 31 March 2026 and published full year figures on a standalone basis. Standalone revenue from operations decreased by 2.01 per cent year-over-year to Rs 102.58 million (mn), while profit after tax declined by 43.94 per cent to nine point five six mn, leaving a profit after tax margin of nine point zero five per cent. Earnings per share stood at Rs zero point nine two, a fall of 44.71 per cent year-over-year. The company attributed part of the decline to one-off provisioning for bad debts and additional financing charges..

Atlanta Electricals Posts Strong FY26 Growth And Debt Free Finish

Atlanta Electricals reported audited consolidated results for the quarter and year ended 31 March 2026. The company recorded significant year-on-year revenue growth driven by capacity ramp-up at new facilities and higher utilisation at legacy plants. The announcement summarised operating improvements and strategic milestones achieved during the year. For Q4 the company reported revenue of Rs 7.48 bn and for FY26 revenue of Rs 18.52 bn, representing robust growth versus the prior year. EBITDA in Q4 was Rs. 1.49 bn and Rs. 3.44 bn for the full year, with margins expanding to 20 per cent in the q..