The Coke Oven Plant will be executed within the overall time frame of 33 months. Also, they entered into an MoU with the Department of Mines & Geology, Government of Jharkhand for carrying out geological exploration in Jharkhand for various minerals like iron ore, lime stone, bauxite etc. In January 2010, the company entered into an MoU with Department of Mines & Geology (DMG), Govt. Sales in February 2021 increased by 12 per cent at 3.25 mt as against the 2.91 mt achieved in February 2020. 5,100 per ton ii) Fines (64%, -10mm) @ Rs. In the year 1968, they commenced production of iron ore from Bailadila Deposit No.14. NMDC Director (Finance) S Thiagarajan said that the project will be developed on 70:30 debt and equity ratio and the investment will start pumping in once formalities for acquiring 50 per cent stake in Legacy by NMDC are completed. NMDC last month raised its stake in its Australian subsidiary Legacy Iron Ore Ltd to 78.56 per cent from 48.82 per cent at a cost of A$12.3 million (about ₹69 crore). NMDC to buy Legacy Iron Ore for Rs92 crore Odisha iron ore miners have increased prices by more than 100% in the last three months and it is currently at Rs 6,450 per. Nifty 13,749.25 148.15. Country's largest iron ore miner NMDC has left the price of lump ore unchanged at Rs 5,100 per tonne and Rs 4,210 per tonne for fines in its latest price revision announced on Saturday.. Iron ore is the key raw material used in steel making. The company would invest $18.9 million in order to acquire a 50% interest in Legacy. Fines (64%, -10 mm) @ Rs 4,210/- per ton. "In the ongoing financial year, NMDC has targeted to utilize 97 per cent of its production capacity to produce 35 MT of Iron ore. In October 20, 2011, the company signed the share subscription agreement with Legacy Iron Ore Ltd, Australia for holding 50% of the total shares in the capital of Legacy Iron Ore Ltd, Australia, at a price aggregating to AUD 18.89 million. It is also operating a diamond mine namely Diamond Mining Project, Panna (M.P. After over two years, state- owned NMDC Ltd. resumed production of iron ore from Donimalai Mines in Karnataka, the public sector enterprise said on Thursday. NMDC is now the majority shareholder of the company that is currently developing the Mt Bevan iron ore project with a reserve of 1.59 billion tonnes of magnetite iron ore of 30.2% Fe grade. NMDC is likely to spend AUD 12.5 million to acquire rights equivalent to its 49.6 per cent stake in Legacy Iron Ore, a senior official of the Ministry of Steel said. NMDC being a strong mining company with experience in acquisition of mineral assets abroad and MIDHANI having expertise in metals and alloys providing technical support and coordination for Ammonium Para Tungstate (APT) can combine their complementary strengths to pursue a win-win venture in developing the identified tungsten mineral assets in India and abroad. Copyright© 2020. During the year, the company was Conferred the Navratna status by Department of Public Enterprise, Government of India which enabled the Board of Directors of the company to exercise certain enhanced capital expenditure powers without reference to Government of India. The National Mineral Development Corporation (NMDC), India’s state-owned miner, has announced plans to acquire the remaining interest it does not already own in Australia’s Legacy Iron Ore. NMDC initially acquired around half of the Australian firm in 2011, but has since increased its stake to 78.56%. 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Their principal operations include its three iron ore mining complexes at Kirandul and Bacheli in the State of Chhattisgarh and Donimalai in the State of Karnataka, each of which consists of several iron ore mines. All rights Reserved. Capita... NMDC achieved monthly production of 3.86 million tons (provisional) of iron ore in Februar... NMDC has restarted Donimalai Iron Ore Mine on 18 February 2021 after obtaining the Lease ... NMDC announced that the prices of iron ore with effect from 07 February 2021 have been fix... NMDC has achieved iron ore production of 3.86 MT in January 2021 compared to 3.31 MT in Ja... Khanji Bhavan 10-3-311/A, Castle Hills Masab Tank, Hyderabad, Telangana, 500028. NMDC completes acquisition of Legacy Iron Ore stake Wednesday, 18 January 2012 17:33:54 (GMT+3) | Indian state-owned miner National Mineral Development Corporation (NMDC) has completed the acquisition of a 50 percent stake in Australia-based mineral exploration company Legacy Iron Ore for a consideration of A$18.89 million. NMDC plans to develop mineral assets overseas to secure raw materials for the steel industry. NMDC plans to invest A$10m ($6.9m) in Legacy’s gold project to take it up to the next stage of iron exploration, Mukherjee added.