NMDC, the public sector mineral resources company is likely to form a JV with the Jharkhand State Mineral Development Corporation (JSMDC). All the mining activities in Jharkhand will be undertaken through this JV.

The move is a part of the company's long term plans to have "a number of satellite companies," which will work under its umbrella. Multiple JV companies will be formed, where NMDC will have an equal or a majority share. The company has formed a similar JV with Jammu & Kashmir Minerals for mining of magnesite. Also, it had set up a 50:50 JV with Steel Authority of India for mining of limestone in Himachal Pradesh.

Apart from this, the group has plans to develop 100 malls across India of which five malls in Gurgaon, Delhi, Kochi, Ludhiana, Jasipur are operational. The fund for the proposed malls is likely to be raised through internal accruals, sale of space at malls and debt from banks.

Meanwhile, the company is also involved in developing jewellery SEZs in Kochi, Haryana, Jaipur and Chhattisgarh for which land has been acquired. The investment for these projects is pegged at anywhere between Rs 600 - Rs 700 crore.

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NMDC to join hands with Africa's Kopanao for mineral assets (31-Mar-09)