The NMDC Limited today said Bailadila Iron Ore Deposit-13 lease in South Bastar Dantewada district of Chhattisgarh was registered in favour of NCL (NMDC-CMDC Ltd) following a state government order.
The Chhattisgarh government had issued an order in November and subsequently the lease was registered and transferred in favour of the JV on December 4, a statement from the PSU said.
Earlier the lease deed of Deposit-13 was executed by NMDC in January 2017 and the transfer of lease from it to NCL was warranted as per the clause of the JV agreement and conditions in the lease grant order, it said.
NMDC-CMDC Ltd is a Joint Venture company in which NMDC holds 51 per cent and CMDC holds 49 per cent stake.
NMDC-CMDC Ltd has planned to start the mining operations next fiscal and the production of Deposit-13 would meet the requirement of Chhattisgarh-based sponge iron industries and other domestic steel makers, said the release.
Disclaimer: No Business Standard Journalist was involved in creation of this content
