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Time of India

NMDC seeks reservation of iron ore mines to achieve 100 million tonnes per year iron ore production by 2030

1 2 Hyderabad: State-owned mining giant NMDC Ltd is actively pursuing the reservation of certain iron ore mines across India as part of its ambitious plan to achieve its target of 100 million tonnes per annum production capacity by 2030. The mining major has identified five key deposits for reservation: Malongtoli in Odisha, Bailadila Deposits 3 & 8 in Chhattisgarh, Ramandurg in Karnataka, Gadchiroli in Maharashtra, and Karampada in Jharkhand, NMDC chairman & managing director Amitabh Mukherjee told TOI. He said the company has approached various state govts requesting the reservation of strategic mining leases, citing its inability to compete in the current auction regime where premium bids often exceed 150% over and above royalties and various taxes, making such high premiums economically unviable for merchant miners like the company. For instance, he said the company has been talking to the Odisha govt for the Malongtoli deposit for over a decade and for Ramandurg for over seven to eight years. "We are definitely the best miners in the country in terms of EC (environmental clearance) capacity utilisation, carbon footprint, efficiency, and technology. We even exceed benchmark parameters set by global mining giants like Rio Tinto and Vale in several aspects," he said, pointing out that reserving these mines for NMDC would be in the larger national interest. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Medical Mystery Solved: Dementia and Memory Loss Has Been Linked To This Common Thing. vitalgethealth Click Here Undo To support its expansion plans, NMDC has already drawn up a substantial capital expenditure plan of Rs 65,000-70,000 crore over the next five years to meet its 100 MTPA target by 2030. Of this, projects worth around Rs 30,000 crore have already been sanctioned and are at various stages of scrutiny and tendering, while another Rs 13,000 crore projects are awaiting board approval and are expected to be sanctioned in the coming quarter. Additionally, projects worth Rs 25,000-30,000 crore are on the drawing board.