National Mineral Development Corporation : In News
India’s state-run miner NMDC is expected to extract 6,500 carats of diamonds, worth $3.4 million, this fiscal year from ores in a mine near Panna Tiger Reserve in Madhya Pradesh.
- Incorporated in 1958 as a Government of India fully owned public enterprise, NMDC is under the administrative control of the Ministry of Steel, Government of India.
- The company was categorised as “NAVRATNA” Public Sector Enterprise in 2008.
- It is engaged in the exploration of a range of minerals, including iron ore, copper, rock phosphate, limestone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, and beach sands.
- It is India’s single largest iron ore producer, presently producing over 45 million tonnes of iron ore from its fully mechanized mines in Bailadila Sector in Chhattisgarh and Donimalai in Bellary-Hospet region in Karnataka.
- It is considered to be one of the low-cost producers of iron ore in the world.
- The company sells most of their high-grade iron ore production to the Indian domestic steel market, primarily pursuant to long-term sales contracts.
- It also operates the only mechanized diamond mine in India at Panna, Madhya Pradesh.
- All of the NMDC mining complexes have been rated 5 Star by the Indian Bureau of Mines, Ministry of Mines.
- The registered office is located in the city of Hyderabad, Telangana.
