NMDC and Midhani have signed a Memorandum of Understanding (MoU) for Tungsten - Mining & Development of Processing Technology. NMDC being a strong mining company with experience in acquisition of mineral assets abroad and Midhani having expertise in metals and alloys providing technical support and coordination for Ammonium Para Tungstate (APT) can combine their complementary strengths to pursue a win-win venture in developing the identified tungsten mineral assets in India and abroad.
Tungsten metal is of strategic importance to the country because of its essential requirement in the manufacture of Tungsten based heavy alloy ammunition systems for armed forces. Availability of Tungsten in India is very limited and not being mined due to the lean ores. Presently, India's requirement of this strategic mineral is being met mainly through imports. This alliance would allow both the companies to explore jointly the Tungsten assets in India and abroad for investment and development of technologies for converting Tungsten ore to APT and Tungsten powder.
NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.
| Company Name | CMP |
|---|---|
| Coal India | 443.15 |
| NMDC | 89.43 |
| GMDC | 695.00 |
| Sandur Manganese | 217.15 |
| MOIL | 325.35 |
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