NMDC-CMDC, a joint venture of the Indian state-run NMDC Limited Chhattisgarh Mineral Development Corporation (CMDC), has cancelled its iron ore mining contract with Adani Enterprises (AEL), a statement by NMDC-CMDC said on Friday, September 29.
In its letter to Adani Enterprises, NMDC-CMDC cited “monopoly in operations, shifting responsibilities, and providing mischievous information” as reasons for the termination of the contract.
The contract, which was signed on December 6, 2018, pertains to the allocation of south Chhattisgarh’s Bailadila iron ore Deposit-13 at Kirandul in Dantewada to Adani Enterprises.
According to the letter issued by the CEO of NMDC-CMDC on August 28 this year, Adani Enterprises had not taken essential steps toward achieving the targeted goals and objectives specified in the agreement.