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NMDC exploring gold mining in Tanzania

Our Bureau

Hyderabad , Feb. 21

NATIONAL Mineral Development Corporation Ltd (NMDC) is ready to dig in prospective mines for gold in the Republic of Tanzania.

The Hyderabad-based public sector company plans to invest Rs 6.5 crore in exploration and preparation of a detailed feasibility report in the African nation, according to Mr B. Ramesh Kumar, Chairman-cum-Managing Director.

NMDC has obtained the necessary permission from the Indian and Tanzanian Governments for gold mining. An Ireland-based consultant has been entrusted to do the studies. The report is expected to be submitted in 18-20 months, a company release said.

Licences have been granted to NMDC by the Tanzanian Government for gold prospecting in Bulyang (OMBE-I) and in Igunga district and Siga Hills in Kahama district.

Studies show Bulyang (OMBE-I) has good prospect for gold mining.

NMDC, which is under the Union Ministry of Steel and Mines, said that it has spent Rs 2.5 crore in the first phase of exploration.

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