The deposits have been extended for the period of 20 years i.e. upto September 2035.
NMDC operates three iron-ore complexes in the country. Two of these are in Dantewada district of Chhattisgarh – contributing to a major portion of the company’s total output while one is located in Karnataka’s Donimalai.
Of NMDC’s 33-million tonnes per annum (MTPA) production, Chhattisgarh’s two complexes in Bacheli and Kirandul under Bailadila projects contributed about 24 MTPA in FY19.
At Chhattisgarh, of the five mines in Bailadila Sector, leases for four mines with an installed capacity of over 29 MTPA has been extended now. The lease for the remaining one had already been extended in 2017.
Company's stock price was up by 1.84 per cent on Wednesday morning to 119.30.