NMDC-KIOCL merger on cards, awaits clearances from ministries, regulators

NMDC continues to meet the country's iron ore demands, achieving a turnover of Rs 21,294 crore in financial year 2023-24

The Union government is planning to merge Kudremukh Iron Ore Company Ltd (KIOCL) with India’s largest iron ore merchant miner, NMDC—a Central Public Sector Enterprise (CPSE) soon, according to a senior steel ministry official. 

This follows KIOCL’s challenges in commencing mining operations at Devadari in Karnataka, the official said. Detailed proposals, currently being prepared, will assess whether NMDC needs to make any payments to the steel ministry or the Centre in relation to the merger, it is learnt. The report will also evaluate the viability of the merger. The merger or amalgamation will require additional clearances from several ministries, including