NMDC Expands Its Mineral Portfolio With Inauguration Of MCGO

Utkarsh Classes Last Updated 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.