NMDC has reportedly received approval to transfer a top iron ore resource Bailadila Deposit-13 in favour of its joint venture (JV) company with Chhattisgarh Mineral Development Corporation (CMDC).
Earlier the lease deed of Deposit-13 was executed by NMDC on January 10, 2017 pursuant to lease grant order dated January 7, 2017. The transfer of lease from NMDC to the joint venture company NMDC-CMDC referred to as NCL was warranted as per the clause of the JV agreement and conditions in the lease grant order.
Accordingly, the Bailadila Iron Ore Dep-13 lease in village Kirandul, Tehsil - Bacheli, in South Bastar district Dantewada in Chhattisgarh has been registered in favor of NCL on December 4, 2017 subsequent to the state government order dated November 6, 2017.
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.
