NMDC signs mineral exploration MoU with Madhya Pradesh

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HYDERABAD: The National Mineral Development Corporation (NMDC) Limited signed a tripartite MoU with Madhya Pradesh government  (Directorate of Geology and Mines (DGM) through mineral resource department (MRD)) and Madhya Pradesh State Mining Corporation Limited (MPSMCL)  in Bhopal on Thursday.

The MoU was signed by Manohar Dubey, secretary, Mineral Resources Department & MD, MPSMCL on behalf of MPSMCL, PK Satpathy, Director (Production) on behalf of NMDC Limited and V Austin on behalf of Directorate of Geology and Mines, MP in presence of Madhya Pradesh Chief Minister Shivraj Singh Chauhan.

The MoU is for geological & geophysical exploration of various minerals in Madhya Pradesh, NMDC made intentions to invest during the Global Investors Summit held in October for exploration for different minerals in  Madhya Pradesh over an area of 7200 square kilometers.
As per the MOU, on successful establishment of mineral blocks through this proposed exploration, NMDC would be forming a JV with MPSMCL with equity 51:49 (NMDC- MPSMCL) for mining of such blocks.