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).

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: