NMDC sets up Global Exploration Centre to scout for minerals
Domestic mining major NMDC Ltd has set up a Global Exploration Centre at Raipur to discover mineral resources like iron ore, bauxite, gold and diamond in India as well as abr
By PTI |
NEW DELHI: Domestic mining major NMDC Ltd has set up a Global Exploration Centre at Raipur to discover mineral resources like iron ore, bauxite, gold and diamond in India as well as abroad.
Besides tapping mineral resources for NMDC, the centre would do free exploration for state governments and offer commercial services to companies for overseas work, NMDC Chairman and Managing Director Rana Som said.
Set up at an initial investment of Rs 50 crore, the Global Exploration Centre began its operation a few days back. Among others, the exploration centre would undertake drilling works for exploring minerals.
Som said NMDC has written to five mineral-rich states - Jharkhand, Chhatisgarh, Orissa, Madhya Pradesh and Karnataka - for offering its services. However, only Jharkhand and Karnataka have responded so far .
"Jharkhand has evinced interest in signing a memorandum of understanding with us while talks are in advanced stage with Karanataka government," Som said, adding that NMDC would provide free data of valuable minerals to the states.
Som said the company has ordered equipment worth about Rs 70 crore for carrying out exploration works.
Som said the mineral deposits in Australia went up from 0.5 billion tons to 80 billion tons in a span of 40 years as a result of extensive exploration.
In an effort to expand its footprint across the globe, NMDC has joined hands with mining major Rio Tinto for scouting domestic and overseas mineral resources, primarily iron ore.
Besides tapping mineral resources for NMDC, the centre would do free exploration for state governments and offer commercial services to companies for overseas work, NMDC Chairman and Managing Director Rana Som said.
Set up at an initial investment of Rs 50 crore, the Global Exploration Centre began its operation a few days back. Among others, the exploration centre would undertake drilling works for exploring minerals.
Som said NMDC has written to five mineral-rich states - Jharkhand, Chhatisgarh, Orissa, Madhya Pradesh and Karnataka - for offering its services. However, only Jharkhand and Karnataka have responded so far .
"Jharkhand has evinced interest in signing a memorandum of understanding with us while talks are in advanced stage with Karanataka government," Som said, adding that NMDC would provide free data of valuable minerals to the states.
Som said the company has ordered equipment worth about Rs 70 crore for carrying out exploration works.
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According to experts in the mining industry, India spends about 5 million dollar annually for exploration activities whereas in Canada and South Africa the amount is pegged at a whopping 500 million dollar. Som said the mineral deposits in Australia went up from 0.5 billion tons to 80 billion tons in a span of 40 years as a result of extensive exploration.
In an effort to expand its footprint across the globe, NMDC has joined hands with mining major Rio Tinto for scouting domestic and overseas mineral resources, primarily iron ore.
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