NMDC forms new JV with CMDC
June 25, 2008
June 25th (MyIris) – NMDC has formed a new joint venture (JV) company with Chhattisgarh Mineral Development Corporation (CMDC) for the development of Bailadila Iron Ore, Chhattisgarh. The new JV company has been incorporated as `NMDC-CMDC ` with an initial share ratio percentage of 51:49, under the companies act, 1956.
The company is involved in the exploration of wide range of minerals including iron ore, copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sands etc.
Shares of the company declined Rs 13.4, or 4.2%, to trade at Rs 305.95. The total volume of shares traded was 44,533 at the BSE (1.55 p.m., Wednesday).
