On last Friday, Chhattisgarh Government announced to extend mining lease of NMDC, India’s largest iron ore miner and exporter in public sector.
The decision of the Congress Government came as a major relief for the public sector mining giant as its lease period for mines in Chhattisgarh were set to end in March 2020.
It is reported that N. Baijendra Kumar, Chairman-cum-Managing Director of NMDC, agreed to release Rs 600 crore (84 million dollars) immediately to the State Government for renewal.
NMDC produces roughly 70 percent of its total annual iron ore from mines in Chhattisgarh which are based in extreme leftist insurgency-hit Dantewada district. (To contact the reporter on this story: cody.wang@steelhome.cn or 86-555-2238837) |