The three-million-tonne (mt) steel plant is the only greenfield project slated for commissioning in the near term. Sources familiar with the matter said that the plant would have been commissioned by now had it not been for the Covid-19 pandemic.
In a separate development, Minister of Coal, Mines & Parliamentary Affairs, Pralhad Joshi, highlighted the arrangement that the Centre has reached with Karnataka regarding the restarting of NMDC’s Donimalai mines.
The two facets of the arrangement are: A committee under the chairmanship of mines secretary has been formed to look into how much premium, a state or central public sector unit (PSU) should pay on renewal of the mines – the decision is expected in three months (earlier it was zero under MMDR).
At 01:07 pm, NMDC was trading nearly 9 per cent lower at Rs 98.05 on the BSE. The stock hit a low of Rs 97.45 during the session. Other mining stocks, too, were trading in the negative territory. MOIL was trading over 3 per cet lower at Rs 148.50 while Sandur Manganese & Iron Ore was trading over 6 per cent lower at Rs 714.95.
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