India: Karnataka Govt. Renews NMDC Donimalai Lease for 20 Years

Yesterday SteelMint reported that the lease got expired on 3rd Nov'18 owing to which operations had come to halt. According to company's press release today (i.e 6th Nov'18), NMDC Donimalai lease has been renewed for the next 20 years. Other formalities are in the process.

NMDC (National Mineral Development Corporation) is India's largest iron ore miner with annual production of around 35.5 MnT p.a. in FY18. Out of this, 12 MnT was produced from NMDC's mine in Karnataka, combining from Donimalai and Kumaraswamy.

NMDC Donimalai has EC limit of 7 MnT p.a. and produces around 6-6.5 MnT iron ore annually.

For company press release Click here