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NMDC Limited has taken the initiative to intensify mineral exploration in its mines and to open new ones on its own or in joint venture with State governments or State government undertakings.
“NMDC today has begun the exercise with State mineral development organisations in Jharkhand and Chhattisgarh, where we have actively engaged in iron ore exploration,” Narendra Kothari, chairman and managing director NMDC Limited, said at Federation of Indian Mineral Industries (FIMI) Mining Mazma expo.
“We plan to expand this exploration exercise to other States and in other minerals as well. We are targeting new areas in the country and abroad for exploration,” he added.
The company recently bought substantial stake in an Australian mineral exploration company and is expected to use it for both domestic and global operations.
NMDC is also pursuing permission from the Ministry of Mines to carry out mineral exploration in various parts of the country. “We want to do it at our own cost. We want to bear all the costs ourselves,” said Kothari. “To enhance the country’s resource base, the need of the hour is exploration,” he added.
NMDC has also, under Section 4-1 of the MMDR Act, asked the government to be allowed to do exploration work, along with IBM, GSI and MECI.
ProductionThe company is on course to achieve 32 million tonnes per annum by the end of 2014-15. “Expansion of iron ore production capacity from is going on smoothly from our existing mines,” Kothari said.
The company is the single largest iron ore producer, presently producing about 30 million tonnes of iron ore from three fully mechanised mines — Bailadila (in Chhattisgarh), and the Donimalai Iron Ore Mines and Kumaraswamy Iron Ore Mine, in Karnataka.
The company is gearing to meet the expected demand spurt by enhancing production capabilities of existing mines and opening up new mines in the Bailadila and Donimalai sectors.
“NMDC is also in the process of securing mining leases in joint ventures with State governments. These include licences for SasangadaIron Ore Deposit and GhatkuriMine, in Jharkhand; Ramandurg Deposit –13, in Karnataka, and Bailadila, in Chhattisgarh.
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