Expert Appraisal Committee (EAC) – an environment ministry panel has granted clearance to the captive iron ore mine project of National Mineral Development Corporation (NMDC) in Chhattisgarh.
NMDC has plans to set up a steel plant with crude steel capacity of 3 MnT pa in Nagarnar in Bastar district of Chhattisgarh. As per reports, the steel plant is expected to commence trial production by mid 2017.
The Bailadila iron ore project (Deposit No. 4) will cater the requirement of this upcoming steel plant.
As per the exploration details, the mine has mine able reserves of 107.59 MnT and has annual production capacity of 7 MnT pa.
According to the minutes of the EAC under the Ministry of Environment and Forests, the total cost of the project is estimated at INR 1,899.74 crore.
In last fiscal, NMDC produced 28.6 MnT iron ore down by 6% Y-o-Y. Its production from Chhattisgarh Bailadila mines stood at 17 MnT while production from Karnataka it was recorded at 11.6 MnT. In first two months of the current fiscal the miner has produced 4.99 MnT iron ore.
-Sourced
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