Development of Rs 400 crore investment
Production of mining soon, within two years?
Today – Hyderabad
Anno years of iron ore mines, diamond mines to excavate gold mines in the state-owned NMDC Ltd tavvanundi anymore. NMDC chairman N Rajendra Kumar said, “We have got gold mine in Andhra Pradesh and all the permits will be mined.” The e-auction is competing with the Vedanta and Adani groups of the big private sector companies. At the company’s annual general meeting here, he spoke at a press conference later. With the Andhra Pradesh Government, the mine will be opened after the mine Development and Production Agreement.
Where is mine?
This gold mine is located in Chittoor district of Andhra Pradesh. Its area is 263.01 hectares. An estimated 5.15 grams of gold is available in a ton of minerals. Overall, there is a possibility of finding 9 tonnes of gold. The NMDC will invest Rs 400 crore to develop this. Gold production in the next two years is expected to begin. NMDC is developing a gold mine in Tanzania. But this is the first step in making gold mine indigenously.
Soon begin steel plant
NMDC steel plant construction in Nagaragar in Chhattisgarh has reached the final stage. The Coke Oven unit is being launched on 28th of this month and the Blast Furnace will begin in the next three months, Baigendra Kumar said. Steel production is expected to begin next year by June next year. The plant is producing 3 million tons annually, costing an estimated cost of Rs 1500 crore.
Distance to Plant Sale
Last year, NMDC had planned to sell the Nagnar steel plant. But it is not possible for local reasons to express opposition. The steel plant proposal has been dropped longer. It is being brought to the stage of production. Nearly a thousand people are getting jobs.
Production of 67 million tons by 2021-22
Last year, NMD Limited generated 35.6 million tonnes of iron ore. By 2021, it aimed to increase to 67 million tonnes. In the next two years, Rs 6,500 crore will be invested. New mining is mined. The new machine will be purchased.
Profitability is growing
In the first half of this year, the production of water has been reduced to heavy rains. NMDC sources believe that iron ore can be produced by the target. At present, demand for steel has increased and iron ore prices are rising. NMDC has so far raised rates five times this year. This increases profitability. The NMDC official said that the profit margins are still high in this financial year. This flexibility has resulted in a higher price despite the decline in production.
Import duties on imports
To export iron ore from our country, a 30 percent export duty is to be paid. If imported from abroad, it would be enough to pay a 2.5 percent import duty. This suggests that the country’s domestic industry would be forced to increase the tariff on imports and expect the central government to respond positively. Baizendra said that if there were no plans to build a steel factory in Khammam district, the plant would be supplied with iron ore.