Home Mining NMDC Boosts NINL Mining

NMDC Boosts NINL Mining

Kalinga Nagar: Central PSU NMDC has stepped in to provide technical and financial assistance to Neelachal Ispat Nigam Limited (NINL) for resumption of mining operations in Odisha.

NMDC, under Ministry of Steel, will help the operations of NINL iron ore mines at Mithirda mine block, which have resumed.

Under the aegis of the Ministry of Steel, Ministry of Commerce and DIPAM, NINL approached NMDC for support.

To provide impetus to the supply of high-grade iron ore in the state of Odisha, NMDC signed a MoU to extend assistance to NINL.

NINL, a Joint Venture Company of MMTC, IPICOL, OMC, NMDC and others set up a 1.1 MTPA Integrated Steel Plant at Dubri, Jajpur in Odisha.

The company acquired the mining lease for captive production of iron ore in January 2017.

In fact, NINL received permission for merchant sale of iron ore for one million ton per year for two years to augment the iron ore production in the state and meet the expenses of the company.

NINL was given the nod for merchant sale of iron ore for one million ton per year for two years to augment the iron ore production and NMDC, will provide technical and financial assistance to Neelachal Ispat Nigam Ltd (NINL) to resume mining operations in Odisha.

NINL iron ore mines at Mithirda mine block resumed operations in the presence of Sumit Deb, CMD, NMDC and RK Jha, MD, NINL.

Under the aegis of the Ministry of Steel, Ministry of Commerce and DIPAM, NINL had approached NMDC for support.

The NMDC has already signed a MoU to extend assistance to NINL.

NINL, a joint venture company of MMTC, IPICOL, OMC, NMDC and others has set up a 1.1 million ton a year Integrated Steel Plant at Dubri, Jajpur in Odisha.

The company acquired the mining lease for captive production of iron ore in January 2017.

The NINL received permission for merchant sale of iron ore for one million ton per annum for two years in order to augment the iron ore production in the State and meet the expenses of the company.

The iron ore mining by NINL will not only ease ore scarcity in the State but will go a long way in eliminating the financial constraints faced by NINL.

With NMDC extending full support to the NINL in the mining operations, the ailing Steel Producer will get boost in reviving the Plant.

While India is eyeing to produce 300 Million Ton of Steel by 2030, Odisha is going to be a major player in the field of Steel production.

Officials say this eastern state will be able to produce 100 Million Ton of Steel by 2030.

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