NMDC & MECL signed MOU for Mineral Exploration

Hyderabad: NMDC Limited, India’s largest Iron Ore producing Navratna Company, today signed an MOU with Mineral Exploration Corporation Limited (MECL) to collaborate and conduct exploration in mutually agreed projects for iron ore, gold, coal, diamond and other minerals in various states.

Coming together of the two premier Indian Exploration Agencies under the Government of India, NMDC Limited and MECL means better synergies in mineral exploration and allied works. It will help to establish resources/ reserves of various minerals / ores and its extraction while identifying unexplored mining areas. This will support the GOI’s ‘Atmanirbhar Bharat Abhiyan’ initiative and extending commitment towards mineral security for the nation.

NMDC is presently producing about 35 million tonnes of iron ore annually from its fully mechanized mines in Bailadila Deposit- 14/11C, Bailadila Deposit-5, 10/11A (Chhattisgarh State) and Kumaraswamy Iron Ore Mines (Karnataka State). NMDC produces most of the diamonds from the Diamond Mining Project, Panna in Madhya Pradesh. NMDC also has set up an established Research & Development Centre for the study of ore beneficiation and minerals processing.

MECL has been carrying out mineral exploration activities from 1972 and is the premier exploration agency in the country. With its strategic growth plan under Vision-2030, MECL has emphasised on providing, exploration and consultancy services for different minerals in India and overseas geographies on behalf of other agencies including Public Sector, Private Sector and State Government(s) on mutually agreed terms and conditions.

Commenting on the occasion, Shri Sumit Deb, CMD, NMDC said, “NMDC would like to add value to the Honorable Prime Minister’s vision of Atmanirbhar Bharat by domestically fulfilling the demands of the steel industry. I hope this venture accomplishes the mission of strategic and beneficial exploration successfully for both the companies and concentrate on high priority exploration areas and helps in realizing the overall objective of promoting domestic production of previously imported items to foster self-reliance. NMDC has been pioneer in mining and is also venturing into coal at Tokisud North Coal Mine, and Rohne Coal Mine in Jharkhand.

Shri P. K. Satpathy, Director (Production), NMDC Limited is associated in finalization of this MoU and further mentioned that NMDC is using technologies like Space Geophysics EIGEN 6C4 gravity field models for diamond explorations in Madhya Pradesh and said NMDC is also preparing mobile GIS study using the app “Bhuvan Platform” in all its exploration programs.

Dr. Ranjit Rath, CMD, Mineral Exploration Corporation Limited commented, “MECL has surpassed all the past records of 48 years with highest ever turnover, PBT, EBIDTA & PAT and physical productivity. MECL is well poised to augment and expedite exploration coverage for all mineral commodities Pan India. Earlier, MECL has conducted successful exploration for NMDC in Shahpur East & Shahpur West Coal blocks in Madhya Pradesh. I hope this MoU turns out to be successful and fruitful.”

On this MoU signing occasion, Shri Amitava Mukherjee, Director (Finance); Shri Alok Kumar Mehta, Director (Commercial); Shri Somnath Nandi, Director (Technical) of NMDC and
Shri R.K. Jain, HoD, BD; Shri A. Mathur, Head, Corporate Planning & Safety; Shri B.P. Raturi, General Manager (Exploration & Geological Sciences) of MECL along with senior officials of NMDC and MECL were also present.