National Mineral Development
Corporation entered into an MoU with Chhattisgarh Mineral Development
Corporation, in early August 2006, for the development of iron ore mines in the
state.
According to the MoU, the two entities
will form a joint venture that will undertake development of the Bailadila-13
iron ore deposit in the state. The joint venture has targeted to produce 10
million tonnes per year of iron ore from the said deposit. The joint venture
might also undertake mining of the Bailadila-1 mine.
NMDC currently produces 22.90 million
tonnes of iron ore annually, and this is expected to reach 48.75 million tonnes
by 2015-16.
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