NMDC transfers Bailadila Deposit-13 in favour of NCL

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Bhubaneswar : Public sector iron Ore producer NMDC today said that it has transferred Bailadial Deposit-13 in favour of NMDC-CMDC ltd. (NCL).
Bailadila Iron Ore Dep-13 lease in village Kirandul, Tehsil – Bacheli, Distt.- South Bastar Dantewada (CG) has been registered in favor of NCL (NMDC-CMDC Ltd) on 4th Decmber 2017 subsequent to the State Government order dated 6th Nov 2017. Earlier the lease deed of Deposit-13 was executed by NMDC on 10th Jan 2017 pursuant to lease grant order dated 7th Jan 2017. The transfer of lease from NMDC to NCI- (NMDC-CMDC Ltd) was warranted as per the clause of the JV agreement and conditions in the lease grant order. NMDC-CMDC Ltd is a Joint Venture company in which the ratio of equity holding of NMDC and CMDC are 51 percent and 49 percent respectively.
NMDC-CMDC Ltd has planned to start the mining operations in FY-18-19 and the production of Deposit-13 would meet the requirement of Chhattisgarh based sponge iron industries and other domestic steel makers.

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