State-owned iron ore major, NMDC, will provide technical and financial assistance to Neelachal Ispat Nigam Ltd (NINL) to resume mining operations in Odisha.
NINL iron ore mines at Mithirda mine block resumed operations today in the presence of Sumit Deb, CMD, NMDC and RK Jha, MD, NINL.
Under the aegis of the Ministry of Steel, Ministry of Commerce and DIPAM, NINL approached NMDC for support.
NMDC signed a MoU to extend assistance to NINL.
NINL, a Joint Venture Company of MMTC, IPICOL, OMC, NMDC and others has set up a 1.1 million tonne a year Integrated Steel Plant at Dubri, Jajpur in Odisha. The company acquired the mining lease for captive production of iron ore in January 2017. NINL received permission for merchant sale of iron ore for one million tonnes per year for two years to augment the iron ore production in the State and meet the expenses of the company.
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Sumit Deb said, “Iron ore mining by NINL will not only ease ore scarcity in the State but will go a long way in eliminating the financial constraints faced by NINL. NMDC extends full support to the NINL in their new endeavour.”