NMDC-CMDC Ltd, the alliance between State-run National Mineral Development Corporation and Chhattisgarh Mineral Development Corporation (CMDC), has decided to speed up work on Deposit Number 13 of the Bailadila mines in Chhattisgarh. The deposit has around 300 million tonnes (mt) of high-grade iron ore, but as they begin exploration the quantity of minable ore is expected to increase.
The alliance, in which NMDC holds 51 per cent and CMDC the rest, was registered earlier this year. The debt-equity ratio for the proposed investment would be 2:1 and the project will have an annual capacity of 10 mt. The mine will meet the needs of the steel, sponge iron or pellet plants that have been set up or which are likely to come up in the Bastar region of the State. The mine is also hoped to cater to customers outside Chhattisgarh after meeting the State''s requirement and this would include any short-lifted or un-lifted quantities.
The alliance, in which NMDC holds 51 per cent and CMDC the rest, was registered earlier this year. The debt-equity ratio for the proposed investment would be 2:1 and the project will have an annual capacity of 10 mt. The mine will meet the needs of the steel, sponge iron or pellet plants that have been set up or which are likely to come up in the Bastar region of the State. The mine is also hoped to cater to customers outside Chhattisgarh after meeting the State''s requirement and this would include any short-lifted or un-lifted quantities.
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