NMDC CMDC JV to speed up work at Bailadila mines

July 29, 2008

July 29th (Steel Guru) – BL reported that the JV between NMDC and Chhattisgarh Mineral Development Corporation has decided to speed up work on Deposit Number 13 of the Bailadila mines in Chhattisgarh.

According to the report, the deposit has around 300 million tonnes per annum of high grade iron ore and the quantity of minable ore is expected to increase as the exploration starts. Around INR 1,500 crore will be invested in the next three years and the debt equity ratio for the proposed investment will be 2:1.

As per the report the project will have an annual capacity of 10 million tonnes per annum and the production is expected to start within three years.

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