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
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?