The company has also signed up an MoU with SAIL to develop limestone mine in Himachal Pradesh. The mine will be developed with a capacity of 3 mtpa at a project of Rs 274 crore
State-owned NMDC plans to ramp up its iron ore production from 28 million tonnes to 50 million tonnes per annum by 2015.
“We are contemplating production of 43 million tonnes from Bailadila sector in Chhatisgarh, while 7 million tonnes per annum would come from Donimalai sector in Karnataka. We are also looking to increase the evacuation of ore from Bailadila sector by commission a uniflow system in collaboration with railways,” said NMDC joint general manager (commercial) C Hanumantha Rao.
Bailadial sector already has 8mtpa-slurry pipeline in place constructed by Essar steel and connects it to its pelletization plant at Visakhapatnam in Andhra Pradesh. The company is also looking to cut down on its exports.
“In 1960, our exports were to the tune of 6 million tonne per annum. Now it has come down to 2 million tonne per annum, which is less than the total production of 28 million tonne per annum. We have long term contracts with Japanese and South Korean steel plants, are likely to end by 2011. We may cut down more on exports after that period,” Rao said.
The central government expects the production of steel to go up by 160 million tonne by 2015. “The government wants to supply majority of iron ore to domestic steel plants to fuel the production,” he said.
The company has also signed up an MoU with SAIL to develop limestone mine in Himachal Pradesh. “The mine will be developed with a capacity of 3 mtpa at a project of Rs 274 crore,” Rao said.
In a major development, NMDC has teamed up with ABS Consulting of Saudi Arabia and Boulder Steel Ltd, to make a $230 million bid for a stake in an Australian iron-ore project owned by Atlas Iron Ltd.
A non-binding offer has been pitched to Atlas Iron for a 70 percent stake, which may be the Ridley project in Western Australia, a business daily reported.
Atlas Iron, an Australian ore producer, said in January it expects to sell a stake in the A$3 billion ($2.7 billion) Ridley project by the end of the first half after lining up buyers from China, India, South Korea and Japan. The company wants to sell 70 percent, Chief Executive Officer David Flanagan said Jan. 7.
NMDC will spend $70 million for a 10 percent stake, and receive an additional 5 percent for providing technical expertise, the Economic Times said, adding that a Chinese firm may submit a rival offer.
Flanagan was not immediately available for comment after a call to the company’s office outside of business hours.
State-owned NMDC plans to ramp up its iron ore production from 28 million tonnes to 50 million tonnes per annum by 2015.
“We are contemplating production of 43 million tonnes from Bailadila sector in Chhatisgarh, while 7 million tonnes per annum would come from Donimalai sector in Karnataka. We are also looking to increase the evacuation of ore from Bailadila sector by commission a uniflow system in collaboration with railways,” said NMDC joint general manager (commercial) C Hanumantha Rao.
Bailadial sector already has 8mtpa-slurry pipeline in place constructed by Essar steel and connects it to its pelletization plant at Visakhapatnam in Andhra Pradesh. The company is also looking to cut down on its exports.
“In 1960, our exports were to the tune of 6 million tonne per annum. Now it has come down to 2 million tonne per annum, which is less than the total production of 28 million tonne per annum. We have long term contracts with Japanese and South Korean steel plants, are likely to end by 2011. We may cut down more on exports after that period,” Rao said.
The central government expects the production of steel to go up by 160 million tonne by 2015. “The government wants to supply majority of iron ore to domestic steel plants to fuel the production,” he said.
The company has also signed up an MoU with SAIL to develop limestone mine in Himachal Pradesh. “The mine will be developed with a capacity of 3 mtpa at a project of Rs 274 crore,” Rao said.
In a major development, NMDC has teamed up with ABS Consulting of Saudi Arabia and Boulder Steel Ltd, to make a $230 million bid for a stake in an Australian iron-ore project owned by Atlas Iron Ltd.
A non-binding offer has been pitched to Atlas Iron for a 70 percent stake, which may be the Ridley project in Western Australia, a business daily reported.
Atlas Iron, an Australian ore producer, said in January it expects to sell a stake in the A$3 billion ($2.7 billion) Ridley project by the end of the first half after lining up buyers from China, India, South Korea and Japan. The company wants to sell 70 percent, Chief Executive Officer David Flanagan said Jan. 7.
NMDC will spend $70 million for a 10 percent stake, and receive an additional 5 percent for providing technical expertise, the Economic Times said, adding that a Chinese firm may submit a rival offer.
Flanagan was not immediately available for comment after a call to the company’s office outside of business hours.
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