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NMDC Expands Its Mineral Portfolio With Inauguration Of MCGO

Utkarsh Classes 06-11-2023
NMDC Expands Its Mineral Portfolio With Inauguration Of MCGO Industry 3 min read

Nagendra Nath Sinha, Secretary, Ministry of Steel, unveiled a foundation stone laying ceremony for mining operations at Mount Celia Gold Project located in Western Australia on 5 November 2023.

  • This initiative taken by Legacy Iron Ore Limited, a government-owned steel CPSE, a subsidiary of NMDC Limited, has been met with great anticipation.
  • This stands as a testament to NMDC's continued dedication and commitment in diversifying its mineral assets.
  • Establishment of the first gold mine in NMDC's extensive portfolio, which is a remarkable achievement for the organization.
  • This unprecedented event also represents the culmination of a rigorous process that included obtaining all necessary statutory approvals and finalizing the mining contract with Bain Global Resources.
  • It is notable that work on the mine infrastructure has progressed rapidly, setting the stage for ore mining to commence at the Blue Peter Pits in the coming weeks.
  • The first ore for processing at Paddington Gold Mine is scheduled for CYQ1, 2024, and it is set to become a significant contributor to India's gold production landscape.
  • In another development in the mining sector, NMDC is in talks with Australia's Hancock Prospecting Pvt Ltd for exploration and mining of lithium.

National Mineral Development Corporation (NMDC): 

  • Established: 1958
  • Headquarters: Hyderabad
  • NMDC, incorporated as a wholly owned public enterprise of the Government of India, is under the administrative control of the Ministry of Steel, Government of India.
  • NMDC since inception has been involved in exploration of a wide range of minerals including iron ore, copper, rock phosphate, limestone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sand etc.
  • It is the country's largest iron ore producer, producing about 35 million tonnes of iron ore.
  • NMDC was classified as a 'Navratna' Public Sector Enterprise by the Department of Public Enterprises in 2008.

Australia:

  • Capital: Canberra
  • Currency: Australian Dollar

Prime Minister: Anthony Albanese

FAQ

Answer:- Legacy Iron Ore Limited

Answer:- Steel Ministry Secretary Nagendra Nath Sinha unveiled a foundation stone laying ceremony for mining operations at Mount Celia Gold Project located in Western Australia.

Answer:- It is a subsidiary of National Mineral Development Corporation (NMDC).

Answer:- NMDC was classified as a ‘Navratna’ Public Sector Enterprise by the Department of Public Enterprises in 2008.
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