State-owned NMDC Friday said Bailadila iron ore Deposit-13 is being developed under a JV, while making it clear that its mining lease will not be transferred to Adani Enterprises which is a mine-developer-cum-operator for the project.
Deposit-13 is being developed by NCL -- a JV between NMDC and Chhattisgarh Mineral Development Corporation (CMDC).
NCL CEO V S Prabhakar said the lease holder for Deposit-13 is NCL and except for NCL, none can transfer the lease to anyone.
"But some people having vested interest are spreading propaganda that the lease has been transferred to Adani Enterprises for a period of 25 years which is not true," he told PTI over phone.
Adani Enterprises can only excavate iron ore and deliver it to the rail head, he added.
In a statement, NMDC said the 10 mtpa capacity Bailadila iron ore Deposit-13 in Chhattisgarh is being developed under the JV NMDC-CMDC Ltd (NCL).
NMDC holds 51 per cent in the JV, while CMDC holds 49 per cent.
"Mining lease will be transferred neither to Adani nor to others at any point of time. The land required for this project will be acquired in the name of the JV only and NCL shall only have the selling rights of iron ore so produced from Deposit-13," the statement said.
It also made it clear that only the contract of excavation and mine development is awarded to Adani Enterprises to work as mine developer-cum-operator.
"Any propaganda in this regard is condemned," the statement said.
Disclaimer: No Business Standard Journalist was involved in creation of this content
