NMDC receives extension of mining lease from the Government of Chhattisgarh

NMDC, on Tuesday, informed the bourses that it has received extension with respect to mining Leases of Deposit 14, Deposit14-NMZ, Deposit-10, and Deposit- 5 for a period of 20 years with effect from September, 2015 up to the year 2035 as per provisions of the mineral (Mining by Government Company) rules 2015. The extension letters have been issued by the Government of Chhattisgarh for mining of iron ore in the Balidila region in Chhattisgarh. The mining leases is valid up to March 31, 2020.

Further, the company also informed that it has received the llocation of ‘Rohne’ Coal Block, which would ensure that coking coal requirement of company’s upcoming steel plant at Nagarnar, Chhattisgarh, is met.

The stock of NMDC, which opened today at Rs 118.85 apiece, surged nearly 2.4 per cent to touch an intra-day high of Rs 119.95. At 13.11 hours, the stock was trading near to its day high at Rs 119.5, up by 2 per cent from previous close.

NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the government and is under administrative control of the Ministry of Steel.