NMDC signs pact to explore mineral resources in MP

1 November 2016

Iron ore mining major NMDC Ltd has signed a tripartite agreement with the Madhya Pradesh Directorate of Mines and Geology and MP State Mining Development Corporation Ltd to explore mineral resources.

The memorandum of understanding was signed by Manohar Dubey, Secretary, Mineral Resources Department and Managing Director, MPSMCL, and PK Satpathy, Director, Production on behalf of NMDC, and V Austin, on behalf of the Directorate of Geology and Mines in the presence of State Chief Minister Shivraj Chauhan on Thursday.

The MoU is aimed at geological and geophyisical exploration of various minerals in Madhya Pradesh, according to a statement from NMDC.

NMDC had indicated during the Global Investors Summit held earlier this month about its intention for exploration of different minerals in Madhya Pradesh over an area of 7200 sq.km.

The company has explored several deposits for over five decades within and outside the country and has established deposits of iron ore, copper, limestone, dolomite, bauxite, sapphire, among others.

As per the MoU, on successful establishment of mineral blocks through the proposed exploration, NMDC would form a joint venture with MPSMCL with equity of 51:49 for mining of such blocks.ation will be faster.

NMDC proposes to use remote sensing and GIS studies, interpretation of airborne multi-sensor geophysical data, geological, geochemical and geophysical studies for exploration in Madhya Pradesh for discovering new deposits.

NMDC is also setting up its won laboratory for remote sensing and GIS capabilities in Hyderabad.

Source: BL