https://www.engineeringnews.co.za

NMDC firms up capex for next two financial years

27th September 2018

By: Ajoy K Das

Creamer Media Correspondent

     

Font size: - +

KOLKATA (miningweekly.com) – India’s largest iron-ore miner, NMDC, has earmarked a capital expenditure (capex) of $902-million over the next two financial years.

NMDC has committed this investment even as the miner is on verge of starting commercial production of its three-million-ton greenfield steel plant in the central Indian province of Chhattisgarh entailing an investment of $1.94-billion, NMDC chairperson Baijender Kumar said after the company’s annual general meeting.

The miner has set a target to achieve iron-ore production of 67-million tons a year by 2021, up from levels of around 37-million tons a year at present, Kumar said.

To ramp up production, NMDC is setting up two screening plants: a 12-million-ton-a-year plant at its Bailadila mines in Chhattisgarh, and the seven-million-ton-a-year Donimalai mines plant in the southern Indian province of Karnataka.

Meanwhile, company sources said that Legacy Iron Ore, the ASX-listed subsidiary of NMDC, would spearhead the Indian miner’s overseas foray into gold and base metals starting with exploration work in some tenements in Australia.

The sources said that NMDC, on behalf of Legacy, had made applications to government of Western Australia seeking three exploration tenements for tungsten to add to its existing exploration across 19 other tenements.

 

Edited by Creamer Media Reporter

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/04/2024)
26th April 2024 By: Martin Creamer
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:1.065 1.124s - 156pq - 2rq
Subscribe Now